China: New policy to shore up SMEs
The State Council issued a document yesterday (September 22) to strengthen support for the development of the country's small and medium-size enterprises (SMEs). The government will deepen reforms in the country's monopoly industries, lower the market access threshold for SMEs and create a more open, fair and competitive environment. The government will optimize procurement mechanisms, raising the volume of purchases from SMEs of commodities, engineering and services. The government will grant SMEs a one-year reprieve on the social security fund to cope with the global financial crisis. It will also expand channels for SMEs to raise capital by encouraging banks to lend them more money. Finally they will increase tax breaks in 2010 to small firms with an annual taxable income below 30,000 yuan ($4392.40).

Senior Officail: SMEs Get more Support 
The minister of Industry and Information Technology, Mr. Li Yizhong, said at the opening ceremony of the 6th China International Small and Medium-size Enterprises Fair on Tuesday (September 22) that the government will take more positive and effective measures to help SMEs ride out the crisis. He stressed the importance of SMEs for the PRC as they contribute to 60% of China's GDP and employ 75% of urban workers. Li believes if SMEs can't recover, neither can China's economy. He said the State Council has issued a package of measures to stimulate the development of SMEs, including policies to guide private capital to tap into the country's financial system.

License Procedures Facilitated for Domestic Companies
Domestic companies in Guangzhou will be able to enjoy the same convenience as foreign companies when it comes to their business license registration. Currently, foreign companies can complete the registration procedure online and receive their license through the mail. Since the online system was launched in 2008, online registration has become the major application method, accounting for 73% of the total number of applications received. This service will be available to domestic companies within the year.

CLP Power Hong Kong Renews Contract with Daya Bay
Hong Kong's Executive Council approved on Tuesday CLP Power Hong Kong Limited extending their contract to supply nuclear electricity from Daya Bay Nuclear Power Station for another term of 20 years from May, 2014, to May, 2034.