The number of industrial enterprises above a designated size grew last year to 2,801 in Wuhan, according to a report in the Changjiang Daily.
The report said that 152 industrial enterprises above a designated size were added to the capital city of central Hubei province in 2019.
The term industrial enterprises above a designated size refers to businesses with an annual revenue of 20 million yuan ($2.89 million) or more.
In 2019, in order to boost the growth of small and micro-sized industrial enterprises in Wuhan, the municipal government introduced a series of regulations and preferential policies.
Emergency refinancing funds totaling 2.08 billion yuan were issued to small and micro-sized industrial enterprises in the city in 2019, helping 135 companies to obtain refinancing loans of 2.325 billion yuan and helping enterprises to save 51.93 million yuan in financing costs.
Officials said small and micro-sized industrial enterprises' loan discounts, guarantee fee subsidies and SME (small and medium-sized enterprise) financing lease subsidies helped enterprises reduce financing costs by 20 million yuan last year.
A service voucher subsidy for small and micro-sized enterprises provided taxation, credit rating, legal, e-commerce, management and diagnosis services to more than 8,000 small and micro-sized enterprises in the city, helping enterprises reduce operating costs by 25 million yuan.
Officials said Wuhan will continue to make efforts to introduce more industrial enterprises in 2020, a goal released in a government report on Jan 7.
They said the number of the industrial enterprises above a designated size in the city is expected to reach 3,000 by the end of 2020.
