(MENAFN- Qatar News Agency) ijing April 16 - China will provide better support for small and medium enterprises by simplifying how funds are allocated the country's Ministry of Finance said. The ministry along with the ministries of industry and information technology science and technology and commerce issued a notice to improve the efficiency in the way funds are allocated to SMEs according to (Xinhua) news agency According to the notice funds will be allocated to enterprises to help improve technological innovation financing services and international cooperation. The notice also highlighted more support for enterprise innovation in information technology resource saving new energy development biomedical industry and modern agriculture. A subsidy for each new innovative project will stand at no more than 3 million yuan (US$488000) or 40% of the research and development cost at most according to the notice
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