State Council Supports Draft Regulation Aimed at Encouraging Growth of Individually-owned Business

An executive meeting of the State Council yesterday gave in-principle support to draft regulations that aim to encourage the growth and development of China's small family-run businesses or (个体工商户 geti gongshang hu). The proposed regulations will eliminate existing restrictions on who can legally apply to set up their own business and loosen restrictions on the number of people such enterprises can employ. The draft regulations also widen the scope of industries that these small businesses can operate in and includes details of the kind of government support that these companies can receive.

Source
Xinhua

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