China Ramps Up Aid to Small Firms Hurt by Economic Slowdown

Power lines carrying electricity from the Golmud Solar Park hang from transmission towers on the outskirts of Golmud, Qinghai province, China Photo: Bloomberg

(Bloomberg) — China is beefing up financial support to small businesses to help them cope with a sharply slowing economy and soaring input costs.

The State Council, China’s cabinet, released three documents in the past several days, outlining measures to help small and medium-sized enterprises weather the downturn: from encouraging local governments to roll out discounts for power usage to organizing internet companies to provide cloud and digital services to SMEs.