Blueprint to help SMEs go global

MIIT and Bank of China formulate plan to assist the international growth of Chinese companies

The Ministry of Industry and Information Technology and Bank of China Co Ltd on Wednesday, released a five-year plan to support the international development of small and medium-sized enterprises, including helping them with overseas mergers and acquisitions and to form joint ventures.

The plan will encourage local governments to set up special funds or to work with Bank of China to create special funds. These funds will aim to attract venture capital investment from abroad and funds for international mergers and acquisitions.