1b yuan aid fund for firms

SHENZHEN: The government of Dongguan passed a 1 billion yuan ($147 million) fund on Monday to ease the financial difficulties of small and medium-sized enterprises (SMEs) and processing companies.

This new relief comes on the heels of a 1 billion yuan fund set up in August to help processing companies reposition themselves.

"It is an urgent task for the government to support enterprises at a time of depression. When they overcome their difficulties, they will be able to repay the government through taxes," Liu Zhigeng, Party secretary of Dongguan, said.