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China’s Finance Ministry recently announced amendments to its ‘Measures on Administering the Special Fund for Small and Medium-sized Enterprise Development’, which alter the fund’s support area and makes its applications more explicit.

The document emphasizes the fact that the special fund is for SMEs only, to improve financing, services, and international cooperation and to support technological innovation in them.

The Measures say that the fund is a part of the central budget for improving the development environment of SMEs and to lead local governments in supporting and helping them in trade and production.

Ministry said that the Measures are expected to help manage the fund and improve its use and develop innovation and entrepreneurs and that it is going to push local governments to find ways to support SMEs and improve the environment. And there will be more investment in weaker areas to help overcome difficulties in SME development.