China continues its march towards improving business conditions for small businesses after a slow 2018. According to Reuters UK, “Chinese policymakers are studying new ways to give small firms access to cheaper credit and support private sector businesses that face refinancing challenges.”
One way the nation is doing this includes the central bank cutting the reserve rate requirement “for a fifth time in a year, which is expected to free up $116 billion in cash for new bank lending. Chinese Premier Li Keqiang also said on Friday that China would work to cut taxes and fees to try to boost the economy in what he described as a programme of “countercyclical adjustments”. “
The key for early 2019 is to seek for ways to support business.
“Chinese regions are already drawing up new plans to support private businesses, with the southwestern municipality of Chongqing and the northeast province of Liaoning both announcing new measures, including relief funds, to promote private enterprise development.”