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The Central Government Allocated 3 Billion 510 Million Yuan This Year To Support The Development Of Small And Medium-Sized Enterprises.

2008/8/21 13:03:00 29

Clothing And Textile Smes China Finance Ministry

August 20th, the head of China's Ministry of finance, 19, said that the central finance will further increase its support to help solve the difficulties and problems faced by the development of SMEs. This year, the central government will arrange a special fund of 3 billion 510 million yuan for SMEs.

According to the Ministry of finance, in recent years, the central finance has set up six special funds, such as technological innovation fund for small and medium-sized enterprises, funds for international market development of small and medium-sized enterprises, pformation funds for agricultural science and technology achievements, special subsidy funds for SME Service System, special funds for the development of small and medium-sized enterprises, and special subsidy funds for small and medium-sized enterprises' platform service system, so as to support the development of small and medium-sized enterprises.

By the end of 2007, the central government has allocated six special funds to nearly 17 billion yuan.

In order to alleviate the tax burden of SMEs in the development process, the central finance has introduced a series of preferential tax policies for SMEs in recent years, which has effectively supported the development of SMEs.

At the same time, in order to support the financing guarantee system for SMEs, the central government has allocated special funds to support SME credit guarantee business since 2006, and gradually established a compensation mechanism for SME loan guarantee losses.

According to the Ministry of finance statistics, from 2006 to 2007, the central government allocated 238 million yuan to support 266 guarantee institutions.

The SME guarantee business in 2006 amounted to about 70 billion yuan, accounting for 22% of the total guarantee business of the national guarantee agency.

In 2007, the central government allocated 188 guarantee institutions with a support of 188 million yuan, accounting for about 5% of the total number of guarantee institutions nationwide.

In 2008, the central budget will arrange 200 million yuan to support SME credit guarantee business.

In addition, the credit guarantee and re guarantee institutions of non-profit small and medium enterprises that are included in the national pilot scale shall be exempted from business tax within 3 years from the proceeds they engage in secured businesses.

The Ministry of Finance said that fiscal and taxation policies played a positive role in guiding the development of the guarantee industry, enhanced the ability of the guarantee institutions to resist risks, and effectively encouraged the enthusiasm of the guarantee institutions to provide secured loans for SMEs, and promoted the standardized development of the guarantee industry.

At the same time, it promoted the credit of small and medium-sized enterprises, expanded the credit scale of financial institutions to small and medium-sized enterprises, and played a positive role in relieving the financing difficulties and guarantee difficulties of SMEs.

The central government's policies and measures to promote employment and re employment have also promoted the development of labor-intensive small businesses.

According to the Ministry of finance data, since 2002, China has implemented a small secured loan policy for laid-off and unemployed people. As of the end of 2007, the balance of the national small secured loans was 9 billion 852 million yuan, and the central government has allocated 1 billion 163 million yuan of discount loans for small secured loans.

In 2008, the amount of interest bearing loans for labor-intensive small businesses will be expanded to 2 million yuan. At the same time, loan incentives and risk compensation mechanisms should be established to further play the policy effect of small secured loans.