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Beijing to Provide Fiscal Support for Digital Transformation of Chinese Small Business

News Snapshot:

The Chinese central government has unveiled plans to launch a trial scheme for the provision of fiscal support to the digital transformation of small businesses. On 17 August the Ministry of Industry and Information Technology (MIIT) and the Ministry of Finance (MOF) jointly released a notice to announce the launch of “arrangements to undertake work for trials to give fiscal support to the digital transformation of small and medium-sized enterprises.” During the period from 2022 to 2025 the central fiscal plan will support three sets of trials, with key objectives to include: – Raising the ability of digitised public services…

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