China has ramped up support for small businesses, especially individual ones, by launching new websites that extend better services, according to the State Administration for Market Regulation.
A vendor makes snacks at a night market in the township of Langgar, Yutian County, northwest China's Xinjiang Uygur Autonomous Region, May 20, 2020. (Xinhua/Sadat)
The latest data from the administration showed that among China's over 150 million market entities, 102 million are individual or home businesses and 43.17 million are small and micro firms. They depend on accessible services and information to survive.
The two new websites going online on Thursday, one as an integrated registration services platform for all market entities and the other a government-business interaction window, are established to meet those needs.
The websites will provide timely and accurate information about the market and relevant policies, said Guo Hua, the third-generation manager of a family-owned restaurant in Beijing, noting that the catering industry should be more alert to market trends to rise above COVID-19 pressures.
China will unequivocally nurture individual businesses, said an official with the administration. The country will closely track the performances of small and micro firms, as well as individual businesses, for stronger policy support.
