Liu He Wants to Help SMEs Too

Liu He joins Li Keqiang in his support for SMEs.

21st Century: 刘鹤:采取精准有效措施 大力支持中小微企业发展
According to the Chinese government network, the second meeting of the State Council Leading Group for Promoting the Development of Small and Medium Enterprises was held in Beijing on October 17. Liu He, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and leader of the State Council's Leading Group for Promoting SME Development, presided over the meeting and delivered a speech. Previously, the leadership team made adjustments in June this year and held its first meeting on August 20.

"In less than two months, the leading group held another meeting, which not only has important economic significance, but also has important political and social significance." Liu Junhai, director of the Institute of Commercial Law of Renmin University of China, said.

"On the one hand, the conference promotes the high-quality development of small and medium-sized enterprises' prescriptions; on the other hand, under the turmoil of capital market and the pressure of international trade, the conference released policies to optimize the business environment for SMEs and the private economy. Signal." Liu Junhai told the 21st Century Business Herald reporter.

The meeting stressed that it is necessary to adhere to the basic economic system and give full play to the important role of small, medium and micro enterprises and private economy in China's economic and social development. We must attach great importance to the outstanding difficulties faced by small and medium-sized enterprises, and adopt precise and effective measures to support the development of small and medium-sized enterprises.
Social security and financing costs are top of the list.
"At present, the more pressing and prominent problem is how to deal with the unified collection of social security fees. The State Council executive meeting stressed that before the reform of social security collection agencies is in place, all localities must maintain the existing collection policy unchanged, which requires a study on the appropriate reduction of social security rates. To ensure that the overall burden is not increased," Wen Bin, chief researcher of China Minsheng Bank, told the 21st Century Business Herald.

“At the meeting, entrepreneurs’ representatives reported some common problems in the development of SMEs. I personally think that it is more difficult to raise financing difficulties.” Yang Lin said.

The meeting stressed that it is necessary to further deepen the research and study of policies and measures to support the development of small and medium-sized enterprises in reducing the burden of taxes and fees, solving financing problems, improving environmental protection, improving scientific and technological innovation capabilities, and strengthening international cooperation, and promoting the high-quality development of small and medium-sized enterprises.
Zhang Wenhong introduced that at the end of September 2018, the balance of small-scale micro-loans (including small and micro-enterprise loans and individual industrial and commercial households and small and micro-enterprise main operating loans) with a single-person credit of less than 5 million yuan was 7.73 trillion yuan, and the balance increased year-on-year. 18.1%, the growth rate is 8.3 percentage points higher than the end of the previous year. In September 2018, the average loan interest rate of newly issued small and micro enterprises was less than 6.25%, which was 0.17 percentage points lower than the first half.
Maybe one day there will be a policy to help SMEs. Maybe.

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