3b yuan in the pipeline for SMEs | Shanghai Daily

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October 28, 2009

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3b yuan in the pipeline for SMEs

CHINA will take more measures to encourage private investment in the next stage of its 4-trillion-yuan (US$586 billion) stimulus package, the National Development and Reform Commission said yesterday.

The commission, China's top economic planner, will allocate 3 billion yuan of government investment for small and medium enterprises to promote their innovation capability, energy saving and emission reduction, and to improve production conditions.

The government will roll out policies in expanding market threshold and improving administrative service to boost private investment, according to the commission.

The stimulus investment will support more livelihood projects and promote innovation and environment protection, the commission said, without elaborating on any specific investment plans.

The commission will also strengthen supervision over investment programs to avoid fund abuse and overcapacity.

The 4-trillion-yuan stimulus package, announced in November, has played a significant role in maintaining economic growth, expanding domestic demand and guiding economic structure adjustment. China's economy grew 8.9 percent in the third quarter year on year.



 

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