SMEs to get benefit package soon

The Ministry of Finance will "soon" draft special rules requiring local governments to buy more products from small and medium-sized enterprises (SMEs).

Funding to SMEs will be increased significantly to help them cope with the tightened credit situation and falling global demands, the ministry said yesterday.

The ministry will earmark 3.51 billion yuan ($512 million) worth of special funds to help the growth of SMEs, which will enjoy preferential tax policies, too. It, however, did not say when exactly the new government procurement rules would be announced.