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 Law on Promotion of Small and Medium-Sized Enterprises Revised
Category:Legislative Updates  
Subject:Legal system   ; Companies and enterprises  
Keywords:SMEs;  difficulty in financing;  revise
Publish Date:10-12-2017
Recently, the Law of the People's Republic of China on the Promotion of Small and Medium-Sized Enterprises as revised was adopted at the 29th Session of the Standing Committee of the 12th National People's Congress of the People's Republic of China, effective from January 1, 2018.
The new law fine-tunes the governmental coordination and management system, clarifies a number of tax preferences, adds multiple new initiatives for the promotion of financing of SMEs, provides for the protection of their rights and interests in a separate chapter, encourages startups, innovations and market exploration, improves the public service system, strengthens supervision, and specifies accountability.
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