1970-01-01 08:33:28
The central government's budget, as approved by the State Council, recently allocated 1 billion yuan to be used specifically on credit guaranties for SMES (small and medium-sized enterprises).
This will alleviate the financial difficulties faced by small and medium-sized enterprises and further support their development. The total funds allocated by the central government's budget to support credit guaranties of small and medium-sized enterprises will reach 1.8 billion yuan. This amount has increased greatly than last year.
According to an explanation from the Ministry of Finance PRC, the fund to support credit guaranties of small and medium-sized enterprises will be mainly used to compensate the losses suffered by the credit guarantee agencies without repayment.
In order to promote the development of small and medium-sized enterprises, the central government's budget has introduced a series of financial support policies this year.
By People's Daily Online