Shanghai Announces Support For SMEs

Shanghai unveiled a package of policies aimed at the high-quality development of the city's SMEs, according to Wu Jincheng, director of the Shanghai Economic and Information Technology Commission. Speaking at a press conference, Wu said more small tech and innovative firms would receive rewards and subsidies as the thresholds for existing support would be lowered. SMEs involved in green transition industries would benefit from a new R&D funding programme and the government would induct 200 high-level SME professionals into a new training scheme. The government would also increase its share of procurement sourcing from SMEs to over 40% by the end of 2023, Wu said. (Source: Yicai)