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BEIJING, Dec. 24-- China will intensify its support for the development of the private sector, and small and medium-sized enterprises (SMEs) to boost the vitality of market entities and enhance their confidence, an executive meeting of the State Council, China's cabinet, decided on Monday. The meeting was chaired by Premier Li Keqiang. The growth of SMEs has been high on the Chinese government's agenda. An array of policy incentives in the fiscal, tax, and financial fields and in relation to the business climate and public services has been introduced to support SME development. These policies have paid off. Premier Li Keqiang called for giving stronger support to private businesses and SMEs to ease their financing woes and promote the integrated development of businesses of all sizes. The private sector in China, which is mainly composed of SMEs accounting for 90 percent of all businesses, now contributes more than 50 percent of tax revenues, over 60 percent of GDP, more than 70 percent of technological innovations and over 80 percent of urban employment. The private businesses have become a key driving force for economic growth and social progress. "Intensified support for the growth of the private sector, especially SMEs, helps enhance the internal dynamism for economic growth," Li said. "To boost the private sector of the economy and micro and small businesses, it is crucial to create a level-playing field, especially in property protection and market access, for these businesses to compete in a law-based, neutral environment." | 
