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China will further bolster its small and micro businesses with more financial measures to increase vitality of the economy Cheap Dell Curry Jersey , according to a decision made at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.

In order to boost policy support and encourage financial institutions to step up financial services, credit ceiling of VAT exemption for interest derived from bank lendings to small and micro businesses, farmers and self-employed will be expanded from 100,000 yuan to 1 million yuan between Dec. 1, 2017 and Dec. 31 Cheap Percy Miller Jersey , 2019.

The stamp tax exemption for the borrowing contracts of small and micro businesses and the VAT exemption for those with a monthly sales volume of less than 30,000 yuan will be extended to 2020.

More efforts will be made to put the inclusive finance departments of state-owned banks in place at grassroots levels. Commercial banks will enjoy cut in reserve requirement ratio if their total or percentage of increase in individual loans of less than 5 million yuan to small and micro businesses, farmers, people under poverty line, students and guaranteed loans for startups reach a certain standard.

"The small and micro businesses have been a strong pillar for employment Cheap Larry Johnson Jersey , offered strong support for large and medium-sized enterprises, and increased vitality of the society," Li said. "We should encourage financial institutions to lower their footing and strengthen capacities to serve the real economy."

"Financial resources should flow more to the real economy, especially to agriculture and small and micro businesses to ease their credit crunch and high financing cost," he said.

They have played a pivotal role in creating new jobs Cheap Muggsy Bogues Jersey , as each small and micro enterprise can help create eight new jobs and each self-employed business creates 2.8 jobs, according to the National Bureau of Statistics.

The meeting decided that the government will make greater efforts to develop governmental financing guarantee and re-guarantee institutions, with a national financing guarantee fund also in the pipeline. Venture capital funds will be encouraged to devote more investment to small businesses in their early periods.

"The development of inclusive finance should be a priority, so that the small and micro businesses and other weaker links can receive consistent support. The financing of small and micro businesses is a global challenge. But it is of major importance, and should be highly prioritized." Li said.

"We managed to make some progress over the years Cheap Nicolas Batum Jersey , reaching targets of growth rate of bank lending to small and micro businesses no lower than lending across the board, number of individual loans and rate for loan approval no lower than the same period last year. Such measures have increased SME's chance of survival," he said.

Policies for small and micro businesses should cover self-employed businesses and farmers as well to increase policy effectiveness, he added.

BEIJING, Sept. 27 (Xinhua) -- China's major industrial firms posted faster profit growth in the first eight months of this year Cheap Kemba Walker Jersey , the National Bureau of Statistics (NBS) said Wednesday.

The companies reported a 21.6 percent year-on-year profit increase in the eight-month period, up from 21.2 percent in the January-July period, the NBS said in a statement.

In August alone, profits of major industrial firms rose 24 percent year on year, much faster than the 16.5-percent growth in July Cheap Charlotte Hornets Hats , it said.

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by Eric J. Lyman

ROME, Dec. 6 (Xinhua) -- Italian lawmakers have been urged to reform electoral law after the country's highest court ruled Wednesday that the current law is unconstitutional.

In theory, it means the current Italian government -- including the prime minister Cheap Charlotte Hornets Hoodies , the council of ministers, and the parliament -- are all illegitimate, though in practice the ruling dramatically ratchets up pressure for lawmakers to reform the system.

The existing law was ruled unconstitutional for two main reasons: the bonus seats it gives the winning party in the lower house of parliament are seen as contrary to the fairness doctrine in the constitution, and that the system could prevent voters from picking their specific representatives.

The legitimacy of the law had been previously questioned when it led to the inconclusive national election results in February this year, critics said. It resulted in a hung parliament divided among three mutually incompatible blocs -- the center-left alliance led by Bersani Cheap Charlotte Hornets Shirts , the center-right coalition led by former Prime Minister Silvio Berlusconi and comedian Beppe Grillo's anti-establishment Five-Star Movement.

None of them were strong enough to govern alone without working majority in Senate under the current electoral law. The result was a two-month stalemate that resulted in the compromise government Letta leads.

The majority of Italians also believe the electoral system should be overhauled, according to a poll conducted Monday by local firm Opinioni.

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