Thursday, December 2, 2021

China to support small businesses

China will further improve supportive policies to help small and medium-sized enterprises (SMEs) tide over difficulties, says the General Office of the State Council.

• November 23, 2021
Chinese Ambassador to Nigeria Cui Jianchun
Chinese Ambassador to Nigeria Cui Jianchun

China will further improve supportive policies to help small and medium-sized enterprises (SMEs) tide over difficulties, says a circular released by the General Office of the State Council.

SMEs are the main force behind national economic and social development, but they face many challenges.

The document noted that the SMEs were facing rising corporate costs and operational difficulties due to higher raw material prices, high logistics costs, sporadic resurgences of COVID-19 and power cuts in some areas, among other factors.

“Manufacturing SMEs will be permitted to defer certain tax payments for fourth quarter, while small and micro enterprises severely impacted by the pandemic, floods and raw material price hikes will receive more lending support,’’ it said.

The document also stressed the importance of helping SMEs to ease pressure from rising production costs, secure power supply, support small firms in stabilising and expanding employment and boost market demand.

“All departments and local authorities shall take on further responsibilities, make bold changes and innovations, help SMEs cope with difficulties, and ensure that all policies and measures are well implemented,” it said.

(Xinhua/NAN)

More from Peoples Gazette

Lai Mohammed

Health

Omicron: U.S., UK, other advanced economies hoarded COVID-19 vaccines, Lai Mohammed says

Mr Mohammed spoke against the backdrop of the Omicron variant of COVID-19 which is spreading across the globe.

Women protesting

States

Police dock 12 Bayelsa women for blocking road construction with charms

The women were protesting the exclusion of their community from an ongoing construction.

MTNN, Flour Mill, Access Bank, Ecobank, and African Prudential

Economy

NGX opens December with N409 billion loss

The market negative performance was driven by price depreciation in large and medium capitalised stocks.

Nigerian soldiers and Boko Haram

Maiduguri

Troops repel Boko Haram/ISWAP terrorists in Buni Yadi: Army

Army spokesman said the security operatives took out Boko Haram and Islamic State’s West Africa Province (ISWAP) terrorists in a fierce battle.

Ebonyi Commissioner of Police, Aliyu Garba

States

Ebonyi: Man arraigned over murder of two persons

The magistrate did not take the defendant’s plea due to lack of jurisdiction.

NSCDC psycho test in Sokoto

States

Civil defence officers undergo psycho test in Sokoto

The evaluation was to ascertain the mental state of the personnel.