The General Office of the Jiangsu Provincial Government recently released 18 measures to support the high-quality development of individual industrial and commercial households.

To help address difficulties in obtaining loans, recruiting employees, and managing operation cost, the province released specific measures, such as cutting some inspection and testing fees by half and providing social insurance subsidies and credit support.

Xue Qiang, deputy director of the province’s market supervision bureau, said there are six measures to improve the business environment. These include facilitating access to government procurement and establishing a prudential and inclusive regulatory environment.

The new measures also intend to help these small businesses grow stronger and competitive. To assist individual industrial and commercial households in transforming into the form of companies, Jiangsu will simplify procedures and optimize services, allowing the retention of the original name and business characteristics. In addition, Jiangsu plans to strengthen services related to quality standards, intellectual property rights, and legal advice, as well as support their online operations and recruitment efforts.

Since the 18th CPC National Congress, the number of individual industrial and commercial households in Jiangsu increased from 3.482 million in late 2012 to 9.982 million currently, an increase of 2.87 times. These businesses accounted for about 70% of the total number of market entities in Jiangsu, ranking first in the country. The number is expected to exceed 10 million in April, making Jiangsu the first province in China to reach this level.

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