New firms

    CHINA sees more than 10,000 firms born every day amid government support for entrepreneurship, a vice minister said Saturday.

    Most of the firms are small enterprises. Data was collected last March through the end of August this year and about 6 million firms were registered during the period, said Xin Guobin, vice minister of Industry and Information Technology. The government has been cutting taxes and fees, helping small firms save about 48.6 billion yuan (US$7.93 billion) in the first half of the year, Xin said. Lending to small firms stood at 16.2 trillion yuan at the end of June, up 14.5 percent from last year.

    Green investment

    THE country must make green investments of between 2 trillion and 4 trillion yuan per year over the next five years, but the government can only cover 15 percent of that, China’s central bank deputy governor, Yi Gang, said Thursday.

    “Most of the finance has to come from the private sector, so we have to provide a positive incentive mechanism,” Yi said on the sidelines of IMF meetings in Lima.

    Wheat purchase price

    CHINA will keep its 2016 State wheat purchase price unchanged from this year’s level to protect farmers, the country’s economic watchdog said Saturday. The government’s minimum purchase price will be set at 2,360 yuan per ton, the same level as 2015, the National Development and Reform Commission said.