China plans more steps to aid smaller companies

Minister says national equity fund to get renewed impetus

The Ministry of Industry and Information Technology will increase the size of the total funds earmarked for the support of small and medium-sized enterprises, as part of its efforts to boost the development of private enterprises, a top official said.

Miao Wei, minister of industry and information technology, said more steps will be undertaken to promote the national equity fund which supports the country's SMEs, which account for 99 percent of the private companies.