"Work has been done to ensure both fair market competition and protection of SMEs in the legislation," Guo Linmao, an official with the Legislative Affairs Commission of the NPC Standing Committee, told a press conference Friday afternoon.
The revision aims to create an easy environment and some sense of gain for SMEs, according to Guo.
The amendment has also strengthened inspection on government authorities' facilitation of SME development, and clarified legal responsibilities for those who violated the rights of SMEs, he said.
The revised law will enter into effect on Jan. 1, 2018.
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