Measures of Hubei Province for Implementing the Law of People's Republic of China (PRC) on the Promotion of Small and Medium-sized Enterprises (revised in 2020)

Chapter I General Provisions Article 1 In order to optimize the business environment of small and medium-sized enterprises, ensure their fair participation in market competition, support their innovation and entrepreneurship, safeguard their legitimate rights and interests, and promote their sustained and healthy development, these Measures are formulated in accordance with the Law of People's Republic of China (PRC) on the Promotion of Small and Medium-sized Enterprises and other relevant laws and regulations, combined with the actual situation of this province. Article 2 These Measures shall apply to the activities of promoting the development of small and medium-sized enterprises within the administrative region of this province.

The term "small and medium-sized enterprises" as mentioned in these Measures refers to medium-sized enterprises, small enterprises and micro-enterprises established in accordance with the national classification standards for small and medium-sized enterprises within the administrative region of this province. Article 3 The people's governments at or above the county level shall take promoting the development of small and medium-sized enterprises as a long-term development strategy, incorporate it into the national economic and social development plan of the region, establish a coordination mechanism for promoting the development of small and medium-sized enterprises, coordinate various policies and measures for promoting the development of small and medium-sized enterprises, and promote their innovative development, transformation and upgrading. Article 4 The competent department of economy and informatization of the provincial people's government shall be responsible for the macro guidance, comprehensive coordination, supervision and inspection of the promotion of small and medium-sized enterprises in the province, and organize the implementation of policies and measures to promote the development of small and medium-sized enterprises.

City (state), county (city, district) people's government to determine the comprehensive management of SME promotion work is responsible for the promotion of SMEs within their respective administrative areas.

Other relevant departments of the people's governments at or above the county level shall do a good job in promoting the development of small and medium-sized enterprises within their respective responsibilities. Article 5 The competent statistical department of the provincial people's government shall, jointly with relevant departments, establish a statistical index system for small and medium-sized enterprises in this province, improve the statistical monitoring system for small and medium-sized enterprises, and gradually establish a market monitoring, risk prevention and early warning mechanism for small and medium-sized enterprises.

The statistical departments of the people's governments at or above the county level shall conduct statistical investigation, monitoring and analysis of small and medium-sized enterprises within their respective administrative areas, and regularly publish relevant data and information reflecting the development and operation of small and medium-sized enterprises. Article 6 People's governments at or above the county level and their relevant departments shall establish a socialized credit system suitable for small and medium-sized enterprises, such as collection, inquiry, disclosure, evaluation, rewards and punishments, so as to promote the enjoyment and application of credit information and improve the level of credit service and supervision. Seventh people's governments at or above the county level and their relevant departments shall publicize the laws, regulations and relevant policies to promote the development of small and medium-sized enterprises, and create a social atmosphere conducive to the development of small and medium-sized enterprises. Chapter II Financial Support Article 8 The provincial people's government shall arrange special funds for the development of small and medium-sized enterprises in the financial budget at the corresponding level, which shall be included in the subjects of small and medium-sized enterprises, and gradually expand the scale according to the level of economic development.

City (state) and county (city, district) people's governments shall, according to the actual situation, arrange special funds for the development of small and medium-sized enterprises in the financial budget at the corresponding level, and gradually expand the scale according to the level of economic development. Article 9 Special funds for the development of small and medium-sized enterprises shall be arranged and used by means of discount loans, services purchased by the government, subsidies and incentives, focusing on supporting the construction of public service system and financing service system for small and medium-sized enterprises, and promoting the transformation, upgrading, specialization, refinement and innovative development of small and medium-sized enterprises.

The proportion of special funds for the development of small and medium-sized enterprises shall not be less than 1/3, and the financial department of the provincial people's government shall, jointly with the competent department of economy and information technology, formulate measures for their use.

Other relevant special funds of the people's governments at or above the county level to support the development of enterprises should be appropriately inclined to small and medium-sized enterprises, and the proportion of funds used for small and medium-sized enterprises should not be less than one third in principle. Tenth provincial people's government should set up a small and medium-sized enterprise development fund.

City (state), county (city, district) people's government may, according to the actual situation, set up a small and medium-sized enterprise development fund.

Small and medium-sized enterprise development funds should follow the policy orientation and adhere to market-oriented operation. They are mainly used to guide and drive social capital to support the development of high-growth, start-up and technology-based small and medium-sized enterprises and promote innovation and entrepreneurship. Eleventh relevant departments of the people's governments at or above the county level shall implement preferential policies to promote the development of small and medium-sized enterprises, such as taxation and administrative fees, and reduce the tax burden of small and medium-sized enterprises. Article 12 All kinds of financial institutions are encouraged to increase financial support for small and medium-sized enterprises by innovating financial products and services and providing preferential interest rates.

People's governments at or above the county level shall establish credit risk compensation and credit incentive mechanisms to guide financial institutions to increase credit support for small and medium-sized enterprises. Article 13 Support financial institutions to promote the construction of organizational system in inclusive finance, and extend their outlets and businesses to counties and towns by implementing franchise mechanism, establishing franchise institutions, upgrading outlets, and developing community branches and small and micro branches, so as to improve the level of batch, scale and standardization of financial services for small and micro enterprises.

Support banking financial institutions to implement differentiated supervision policies for financial services of small and micro enterprises, and improve the tolerance of non-performing loans of small and micro enterprises.

Local corporate banks in this province should actively provide financial services for small and micro enterprises and promote the development of the real economy. The financial department of the people's government at or above the county level shall, jointly with relevant departments, incorporate the financial services provided by local corporate banks in this province for small and micro enterprises into the assessment content. Article 14 People's governments at or above the county level shall innovate and improve the guidance system for listing services, and promote more small and medium-sized enterprises to list and raise funds at home and abroad.

Encourage the people's governments at or above the county level to subsidize the intermediary service fees such as rating, auditing, guarantee and legal consultation generated in the listing and bond issuance of small and medium-sized enterprises.