Editorial: Helping Smaller Enterprises Before Emergencies Occur

SMEs are facing mounting business difficulties. Recently, the General Office of the State Council issued a “Notice on Increasing Financial Assistance to Small and Medium-sized Enterprises” (hereinafter referred to as the “Notice”). The notice increases their financial support and introduces more tax and fee cuts, promotes the new 300 billion yuan ($46.9 billion) loan limit for SMEs, continues to tackle outstanding debts to SMEs, and ensures SMEs have access to the power they need in key industrial chains. In the face of heavy downward pressure on the economy, these initiatives are vital and need to be implemented as soon as possible.