Small firms set for relief from finance crunch

BEIJING - Small enterprises that have been facing capital shortages might get relief soon, if State-owned banks ease lending policies for such businesses, Hu Xiaoming, vice-president at Alibaba Group, said.

Hu made the remarks on Wednesday in Beijing as Alibaba (China) Co Ltd and the National School of Development at Peking University jointly issued a report on small firms' management and financial difficulties.

The Hangzhou-based company is China's top e-commerce group, offering online marketplaces that facilitate business-to-business activity for small companies.