BEIJING, April 19 (Xinhua) -- China's top court will further improve the property rights protection mechanism for micro, small, and medium enterprises (MSMEs) to address their concerns and provide a legal guarantee for high-quality socio-economic development.
The Supreme People's Court (SPC) will standardize judicial compulsory measures and strictly prevent the infringement on the legitimate interests of MSMEs in due procedures, said SPC official Huang Wenjun at a press conference Tuesday.
The SPC has redoubled its support for the inclusive financing for MSMEs and its protection for fundraising activities by MSMEs. In 2021, people's courts nationwide concluded 258,000 cases related to MSMEs, involving an amount of over 56.79 billion yuan (around 8.9 billion U.S. dollars).
The SPC has further refined the mechanism for market entities to exit the market and the mechanism to rescue eligible market entities from bankruptcy. In the first quarter of this year, people's courts nationwide concluded 83 cases related to MSMEs bankruptcy and restructuring, which helped 70 enterprises pull through, retaining over 40,000 jobs, Huang said. ■