Small- & Medium-Sized Enterprises: Top legislature holds special inquiry on SME law

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Small and medium-sized enterprises, or SME, continue to thrive in the Chinese market. But experts say the government can still do more to help them. So the NPC Standing Committee -- China's top legislature -- is holding a special inquiry session on the enforcement of the law designed to promote them. CGTN's Hou Na reports from the Great Hall of the People in Beijing.

A Q&A Session between lawmakers and ministers.

LI WEI NPC STANDING COMMITTEE MEMBER "I want to ask, on behalf of SMEs, how to enhance the innovation capacity of SMEs, apart from their own efforts, what can the government do?"

Miao Wei, Minister of Industry and Information Technology, says it's largely about networking and promoting.

MIAO WEI MINISTER OF INDUSTRY & INFORMATION TECHNOLOGY "Our ministry is in charge of coordination on the work of promoting the development of SMEs. Over the years, we have trained special personnel to help SMEs in different regions to boost their vitality. We will continue to organize a series of business matchmaking events."

HOU NA BEIJING "During the discussion, lawmakers urged relevant government departments to push forward a variety of measures to promote the development of SMEs, including further relaxing their market access, establishing a fair and uniform market supervision system, perfecting financing policies and alleviating the burden of taxes and fees."

First adopted in 2002, the SME promotion law was revised in September of 2017.

According to the law, relevant government agencies are required to protect the rights and interests of SMEs and private entrepreneurs, and provide guidance on their development.

The top legislature launched an inspection on the enforcement of the Law earlier this year.

The inspection teams covered six provincial regions and are designated to facilitate implementation of the law among various government agencies.

Lawmakers say that China's legal, business, financial and innovation environments for SMEs have greatly improved.

It is expected that SMEs in China can transform into high quality and technology-based ones and go global.

HOU NA, CGTN, BEIJING.