China to give smaller companies aid
13-12-2008
China will spend 15 billion yuan (US$2.2 billion) to help smaller companies improve technology to cope with the global economic crisis and will try to boost plunging auto sales, the industry minister said Friday. "Since we are now going through a market downturn, we have to invest more in business technology upgrading so that we will make the most of the upcoming economic upturn," Li Yizhong said at a news conference. The investment measure is the latest in a string of government initiatives that includes a 4 trillion yuan economic stimulus package unveiled last month to help shield China from the global downturn.
