英语新闻丨Policies to support smaller enterprises

China will implement a batch of policies, including those addressing financing and credit, to support small and micro-sized enterprises, platform firms and unicorns, so as to help them expand business and unleash vitality, it was announced on Monday at a conference by the State Council, the nation's Cabinet.

10月14日，国新办举行新闻发布会，宣布中国将实施一系列融资信贷等政策，支持小微企业、平台企业和独角兽企业发展，帮助它们拓展市场、释放活力。

Buoyed by such signals of support for the private sector, share prices rose in China on Monday. The CSI 300, an index of large companies traded in Shanghai and Shenzhen, closed 1.9 percent higher. The ChiNext Index, which tracks China's Nasdaq-style board of growing and emerging enterprises, gained 2.6 percent.

受这些支持民营经济信号的提振，14日，中国股市上涨。沪深300指数收盘涨1.9%，追踪中国版纳斯达克成长型和新兴企业的创业板指涨2.6%。

Luo Wen, head of the State Administration for Market Regulation, the country's top market regulator, said that the country will work to introduce innovative quality financing and credit enhancement policies to ease financing challenges for SMSEs.

国家最高市场监管部门——国家市场监督管理总局局长罗文表示，中国将创新实施质量融资增信政策，帮助缓解小微企业融资困难问题。

Under such policies, financial institutions will factor in a company's quality management and brand reputation when issuing loans. Together with equity, funds and bond-based financing tools, the country aims to generate a credit enhancement and financing quota of 300 billion yuan ($42 billion) each year, Luo said.

罗文介绍，根据这些政策，金融机构在发放贷款时将考虑企业的质量管理和品牌信誉。股权、基金、债券等融资工具组合发力，国家每年可以实现质量融资增信授信额度3000亿元。

Luo emphasized that the SAMR will roll out a guideline to guide platform operators to help merchants on the platform enhance brand awareness, increase market transactions and harness traffic.

罗文强调，市场监管总局将出台指导意见，引导平台企业帮助其平台上的商户提升品牌知名度、增加市场交易量和利用流量。

It will help businesses, especially new entrants, agricultural firms and some unique companies on the platform, to enhance their ability to utilize online traffic more efficiently and tap into larger audiences, he added.

罗文补充，这将帮助企业商户提高流量利用效率、挖掘更多受众，尤其是对新入驻经营主体、农产品经营主体和特色经营主体。

Beyond SMSE support, Wang Jiangping, vice-minister of the Ministry of Industry and Information Technology, said the ministry will collaborate with the China Securities Regulatory Commission to launch the third batch of specialized boards for "little giant" companies in regional equity markets.

工业和信息化部副部长王江平表示，除了扶持小微企业，工信部将联合证监会推出第三批区域性股权市场“专精特新”专板以支持“小巨人”企业。

Little giant companies refer to small and medium-sized enterprises that typically specialize in niche sectors, command high market shares and boast strong innovative capacity. By the end of June this year, China had cultivated 12,000 such enterprises.  

所谓“小巨人”企业，是指专注于细分领域、市场占有率高、创新能力强的中小型企业。截至今年6月底，中国已培育了1.2万家这样的企业。

The ministry also plans to sign a strategic cooperation agreement with the Beijing Stock Exchange to further streamline financing channels for these firms, Wang said.

王江平补充，工信部还计划与北交所签订战略合作协议，进一步畅通专精特新中小企业资本市场融资渠道。

At the conference on Monday, Wang said that China is also placing a greater emphasis on developing unicorn companies — startups valued at over $1 billion — in emerging high-tech fields such as 6G and brain-computer interfaces.

在14日的新闻发布会上，王江平表示，中国也将更加重视独角兽企业（即估值超过10亿美元的初创企业）在6G、脑机接口等新兴高科技领域的发展。

He said a nationwide unified system will be established to coordinate the development of unicorn companies between the central government and provincial government levels.

王江平补充，为推动支持我国独角兽企业发展，将建立全国统一、部省联动的独角兽企业培育体系。

Unicorn companies will be supported in technological innovation, and will be encouraged and guided to address national strategic needs and master unique, proprietary technologies, Wang said, adding that more efforts will be made to increase financial backing for these unicorns, including support for public listings, mergers and acquisitions, to accelerate their growth.

支持独角兽企业技术创新，鼓励和引导独角兽企业围绕国家战略需求开展技术攻关，掌握更多的“独门绝技”。加大对独角兽企业的金融支持，包括支持独角兽企业上市、并购、重组等。

Despite China's growing unicorns, the country still lags behind the United States in terms of the overall number, according to the Hurun Research Institute. Last year, China had 340 unicorns while the US had 700.

胡润研究院称，尽管中国的独角兽企业不断增加，但就总体数量而言，中国仍落后于美国。去年，中国有340家独角兽企业，而美国有700家。

Wang Peng, a senior researcher at the Beijing Academy of Social Sciences, said that encouraging SMSEs, platform firms and unicorn companies are part of broader efforts to spur the private sector, which is of great significance to counter the current global economic slowdown.  

北京市社会科学院高级研究员王鹏表示，鼓励支持小微企业、平台企业和独角兽企业是刺激民营经济发展的进一步努力，这对于应对当前全球经济下行具有重要意义。

A report on private sector development by the State Council showed that private companies accounted for 92.3 percent of the country's total number of business entities in 2023, a significant increase from 79.4 percent in 2012.

国务院关于民营经济发展情况的报告显示，2023年，民营企业占全国企业总数的92.3%，较2012年的79.4%有大幅提高。

"The Chinese economy will continue gathering momentum if the private sector, including smaller businesses, remains sound. More importantly, private enterprises stood undoubtedly at the forefront of technological innovations and the digital economy in recent years, especially in fields like new energy, information, communication, biopharmaceuticals and AI," the senior researcher said.

“如果包括小型企业在内的民营经济发展稳健，中国经济将继续保持良好发展势头。更重要的是，近年来，民营企业无疑站在了技术创新和数字经济的前沿，尤其是在新能源、信息、通信、生物制药和人工智能等领域。”资深研究员王鹏说。

harness

v. 利用

proprietary

adj. 独有的；专利的

merger

n. (企业)合并；并购

acquisition

n. 收购