Ministry of Industry and Information Technology: A second phase of the National SME Development Fund will be established.

On September 14, the State Council Information Office held a routine policy briefing to introduce work related to strengthening the governance of the problem of difficulties small and medium-sized enterprises face in getting paid. Ke Jixin, Vice Minister of the Ministry of Industry and Information Technology, said that if it is found that large enterprises, on the one hand, deliberately prolong payment periods and, on the other hand, are unwilling to make good use of financing support policies, relevant departments will intervene promptly and urge rectification through joint regulatory talks and other means. For those enterprises that refuse to rectify, anti-unfair competition enforcement will be further tightened, and measures such as dishonesty penalties and public exposure will be taken to create a deterrent. For micro, small, and medium-sized enterprises, financing efficiency will be improved across multiple dimensions. Together with the Ministry of Finance, the People's Bank of China, and others, loan interest subsidy policies and relending policies for technological innovation and technological upgrading will be provided to micro, small, and medium-sized enterprises to effectively reduce their financing costs. At the same time, a second phase of the National Small and Medium-sized Enterprise Development Fund will be established to inject long-term capital and patient capital into the transformation and development of small and medium-sized enterprises.