500 million yuan to support financing of SMEs in Xinjiang

Days ago, our reporter learned from the meeting on Autonomous views on the promotion of SME development implementation details that the total financing support for SMEs from autonomous regional government as well as from central government reached 500 million yuan this year, scale increments of special fund for the future development of SMEs will be 20 percent a year.

In 2010, the special fund for the development of SMEs in Xinjiang Autonomous Region reached 100 million yuan, as the increment was required to be 20 percent annually, 120 million yuan’s special fund for SMEs development from autonomous regional government were arranged, focusing on the support of textile business and new business. The budget for next year is 144 million yuan, focusing on the support of new industries’ construction. In the future, unprecedented support will be given to SMEs from the regional financial department in aspects of optimizing the development environment, strengthening tax support to ease the financing difficulties, expanding service channels, and promoting structural optimization, improving management level.