Ministry works to ease burdens for SMEs: official

BEIJING, Dec. 4 (Xinhua) -- The Ministry of Industry and Information Technology will work to ease the burdens of companies further, especially for small and medium-sized firms, so that they can benefit from the government's slew of pro-growth policies, a government official said.

During a teleconference on easing companies' burdens held on Monday, Vice Minister of Industry and Information Technology Xin Guobin said that since the start of this year, the ministry and other government departments have been implementing a special campaign that has led to 10,600 default and arrears resolutions for small and medium-sized enterprises.

In the first 10 months of 2023, new tax cuts, fee reductions, tax rebates and fee deferrals across the country exceeded 1.6 trillion yuan (about 225.3 billion U.S. dollars), boosting market vitality, and the value-added industrial output of enterprises above designated size rose 4.1 percent year on year, official data shows.

Xin said that the ministry will strengthen its oversight and inspection to reduce the burdens of enterprises, aiming to ensure enterprises get the support they need.