This article was last updated on April 16, 2022
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According to Premier Wen Jiabao China has to do a lot more and provide maximum support to the small businesses as these small businesses create thousands of job, but till this point china has failed in its mission due to the tight control on credit.
Wen Jibao while on his inspections tour of Wenzhou made these comments and the visit reflected growing concern over surging bankruptcies in a city famous for the vitality of its mostly small and medium-sized private businesses.
Jibao China’s top economic official recommended that Beijing should make some of their policies flexible specially the ones aimed at lending and combating inflation.
He said “We should maintain the continuity and stability of our policies while giving them more foresight, relevance and flexibility, effective measures should be taken to contain the trend of usury, crack down on illegal fundraising and properly handle the problems of collateral and capital shortage in order to prevent risks from spreading and evolving on a regional scale. Small businesses play an irreplaceable role in creating jobs and boosting economic growth, it is of overall and strategic significance to support their development,”
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