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 Measures for Assisting in Growth Stablization, Structural Adjustment, and Capacity Enhancement of MSMEs Issued
Category:Legislative Updates  
Subject:Companies and enterprises  
Keywords:micro, small and medium-sized enterprises (MSMEs);  growth stabilization;  structural adjustment;  capa
Publish Date:01-19-2023
Recently, the Office of the Leading Group of the State Council for Promoting the Development of Small and Medium-sized Enterprises issued the Measures for Assisting in Growth Stabilization, Structural Adjustment, and Capacity Enhancement of Micro, Small and Medium-Sized Enterprises (MSMEs).
Against the difficulties of MSMEs in production and operation at current stage, this document puts forth a combination of measures to stabilize growth and market expectations, with a focus on policy support, financing facilitation, demand expansion, supply guarantee and price stabilization of bulk raw materials, strengthened guidance of public services and public opinions, and better protection of legal rights and interests. It is intended to inspire vigor and confidence of market players through a combination of measures including policy extension, larger credit line, cost reduction, demand expansion, service improvement, and protection of rights and interests.
To sharpen the core competitive edge of MSMEs, this document also specifies measures from eight aspects to advance structural adjustment and capacity enhancement of MSMEs. It particularly calls for efforts to support the development of specialized and sophisticated MSMEs by focusing on key links in MSMEs' transformation and upgrading. More efforts should be made to accelerated intelligence of scientific and technological achievements, digital empowerment and transformation, promotion of brands of quality standards, better protection of intellectual property, and talent and financial support. Further, a categorized program for cultivating quality small and medium-sized enterprises should be improved to support them to develop into ones that can apply special, sophisticated techniques to produce unique and novel products.
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