China mulls stronger support for small businesses

Workers make toys at a toy factory in Zaozhuang City, east China's Shandong Province, May 30, 2020. (Xinhua/Fan Changguo)

BEIJING, May 26 (Xinhua) -- China will increase support for small and micro enterprises and individual businesses to relieve the pressure on them, the State Council's Executive Meeting chaired by Premier Li Keqiang decided Wednesday.

The meeting also mulled measures to strengthen the weak links in rural compulsory education.

Under the complex and severe situations both at home and abroad, micro and small firms as well as individual businesses still face difficulties in their productions and operations, the meeting said, adding that more targeted measures should be taken to support their development.

The country 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, said the meeting.

China will crack down on hoarding and speculative behaviors that are pushing up the price of raw materials, the meeting stressed.

All market entities should be treated equally, the meeting noted, adding that 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.

In terms of strengthening the weak links in rural compulsory education, the meeting vowed to take effective measures to promote fairer education, narrowing gaps between rural areas and cities as well as in different regions.

The country will foster a stronger workforce of teachers in rural education, improve conditions in rural schools, and guarantee adequate funding.