China to boost manufacturing R&D, extend loan support for SMEs

BEIJING -- China will continue to implement measures for boosting manufacturing companies' research and development, and extend loan support for small and medium-sized enterprises, according to a State Council Executive Meeting.

The country will continue to improve the deductible share of manufacturing firms' R&D expenditure, and encourage innovation and industrial upgrading, said the meeting chaired by Premier Li Keqiang on Wednesday.

The meeting also decided to extend the preferential policies of loan repayment deferral and credit support for SMEs to the end of this year.