China's top court releases guideline to boost MSMEs

0 Comment(s)Print E-mail Xinhua, January 15, 2022
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China's Supreme People's Court on Friday released a guideline to promote the development of micro, small and medium-sized enterprises (MSMEs).

The guideline has 20 measures in six aspects, such as developing the market based on fair competition and honesty, and strengthening judicial protection of property rights of MSMEs.

Cases of monopolies or unfair competition should be adjudicated in accordance with laws, said the document, adding that courts should deal with acts that eliminate or restrict competition and guard against unregulated expansion of capital in order to better protect MSMEs.

It stresses the importance of strictly distinguishing between legitimate financing and illegal fund-raising, as well as between contract disputes and contract fraud.

Economic disputes must not be identified as criminal crimes, and civil liabilities not as criminal responsibilities, read the guideline.

In response to the difficulties and high costs of financing faced by the MSMEs, the document also urges efforts to regulate private lending.

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