The Economy and Information Technology Department of southwest China's Tibet Autonomous Region said a batch of new regulations have come into force since Wednesday to promote the high-quality development of small and medium-sized enterprises.

These regulations consist of 10 chapters and 51 articles. They will mainly highlight the government function positioning, fiscal and tax policy support, financing problem solving, entrepreneurship and innovation support, and enterprise rights and interests protection, said Yang Hong, deputy head of the department.

Special funds will go towards developing small and medium-sized enterprises to support their transformation and upgrading. The regulations will also enhance reducing taxes and fees, said Wang Chunyan from the regional finance department.