The State Council on August 12 unveiled details of financial support for cash-strapped small businesses, which generate the bulk of employment in the country.

Small financial institutions such as village banks and credit companies, as well as private banks, financial leasing companies and consumer financial companies are encouraged to be set up in areas where small businesses are concentrated.

The State Council said credit growth to small enterprises should not be lower than total credit growth. The incremental amount should not be less than that recorded a year earlier.

Private capital should have easy access to the finance industry. Small financial institutions can provide effective services and promote fair competition.

With the economy slowing for several quarters, the government is looking to small businesses to stabilize growth and employment.