China unveils plan to help small firms

China on Friday unveiled a detailed plan to support the country's small and micro-sized enterprises as they still face many challenges. The plan was made to implement a guideline released in April 2012 by the State Council, or China's Cabinet, to support the healthy growth of those companies, the Ministry of Industry and Information Technology (MIIT) said in the plan posted on its website. Small and micro-sized companies have faced great operating pressures, rising costs and financing difficulties since 2012, according to the plan. It aims to promote the growth quality and efficiency of those enterprises by providing better public services, further improving financing services and alleviating their operating burdens. The country will support more than 500 financing guaranteeing firms to help small enterprises get financing this year, the plan said. China will also provide training for 500,000 company management personnel and 1,000 business leaders, according to the plan. Small and micro-sized firms serve as a significant channel for creating jobs, a major platform for entrepreneurship and an important force of scientific innovation, the State Council said.