Based on a big body of research, the Ministry of Industry and Information Technology, Ministry of Culture, and Ministry of Finance may institute preferential policies for small and micro cultural businesses, Securities Daily reported.

The policies will involve various aspects, including market access, taxation and credit aid. According to the policies, the cost of water, electricity, gas and heat for small and micro businesses will be reduced by about 30 percent, since they will be charged according to the industrial standard instead of commercial standard.

The policy will seek to promote the creation and design of enterprises to be more specialized and professional, and form clusters of small and micro businesses. Traditional folk skills and service concepts such as Time-Honored Brands, and corporations with local characteristics will become the focus of the policies. They will also support small and micro businesses such as designing, advertisement or culture studios.

In addition, the policy will promote cooperation between businesses from different areas, different industries or with different ownerships.

Liu Yuzhu, chief secretary of the Culture Ministry’s department of cultural industries, cited an example of such a small and micro business—LKK Design, a successful corporation relying on creative cultural brand. Once a micro business, LKK Design has grown into a leading industrial design company with international influence. “Even grass-roots businesses can become successful with courage and policy support,” Liu said.

Edited by Liu Yufen and Nelly Min