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China will increase support for micro and small enterprises (MSEs) and self-employed individuals to help them overcome difficulties and grow their businesses, it was announced on Wednesday following the State Council’s Executive Meeting chaired by Premier Li Keqiang.
By the end of April, China had more than 44 million MSEs and over 95 million self-employed individuals, which have become the country’s primary job providers. Amid the complex and severe situations both at home and abroad, MSEs as well as self-employed individuals still face difficulties in their productions and operations, it was noted at the meeting, and so more targeted measures should be taken to support their development. China should implement tax and fee cuts, ramp up inclusive financing and implement measures to help those businesses deal with the impact of rising prices from the upstream industries, it was determined.
The country will crack down on hoarding and speculative behaviors that are pushing up the price of raw materials, it was stressed, and all market entities should be treated equally while discriminatory policies and regulations that hinder the entities’ participation in economic activities should be abrogated.
China will enhance law enforcement in its fight against monopolies and unfair competition, and investigate and punish enterprises that are using advantageous market positions to grab market share through malicious subsidies and dumping at low prices. Measures to strengthen the weak links in rural compulsory education were also considered at the meeting.
In terms of strengthening the weak links in rural compulsory education, it was determined that effective measures to promote fairer education, narrowing gaps between rural areas and cities as well as in different regions should be taken. Meanwhile, China will foster a stronger workforce of teachers in rural education, improve conditions in rural schools and guarantee adequate funding. (With input from Xinhua)