CHINA BACKS SMALL FIRMS

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(1013 CR M04)CHINA BACKS SMALL FIRMSDATELINE: Oct. 13, 2011LENGTH: 00:03:29PKGINTROThe State Council, or China's Cabinet, on Wednesday took a new approach toward helping the country's cash-strapped small- and micro-sized enterprises.The country pledges stronger financial and fiscal support to allow them to plow through current economic difficulties. China Report has the details.PKGAccording to an official statement released after a State Council executive meeting chaired by Premier Wen Jiabao, small firms play an irreplaceable role in fostering economic growth, increasing employment, facilitating scientific and technological innovation and maintaining social stability. The State Council admits that some small- and micro-sized enterprises have encountered difficulties due to heavy tax burdens and difficulty in accessing financing.The statement says financial and fiscal support will go to the nation's real economy, particularly to small firms in sectors that meet the nation's industrial
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Producer : Xinhua News Agency

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