China's Premier Pledges Support For Small Businesses
February 2, 2012
Sign Up to Receive an Email Alert when Flash Headlines are Published
China’s Premier Pledges Support For Small Businesses
Bloomberg is reporting that China's stocks gained 2% overnight, the most in two weeks, in response to Premier Wen Jiabao’s pledge to support smaller companies and speculation the government will help banks replenish capital.
The report indicates that Wen pledged $2 billion for small firms as growth is cooling on exports. According to Bloomberg, the Premier said the government will support small companies with a 15B yuan ($2.4B) fund.
According to a statement on the central government's website, China will also extend preferential tax policies for small companies until 2015 and will ask banks to increase tolerance of bad loans to these businesses.
iShares China - Last 12 Month
Introducing the Short-Term Market Manager
This new service is designed to help investors navigate the stock market's short-term trends (5-15 days). Check it out today!
Remember, you are in control your email alerts! You can receive alerts for more than 25 free research report alerts including: The “10.0” Report, The Insiders Report, ETF Leaders Report, and The Focus List.
