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BEIJING , Aug. 28 (Xinhua) -- A draft revision to a law to better protect the interests of small and medium-sized enterprises (SMEs) is one step closer to being passed in China.

The draft legislation was submitted for a third reading at the bimonthly session of the National People's Congress (NPC) Standing Committee, which opened Monday.

"The revision to the law on SME development is necessary for improving the business environment, protecting the rights and interests and promoting the healthy growth of SMEs," according to a report introducing the new draft delivered by Sun Baoshu, vice chairman of NPC law committee.

The law committee made several improvements to the revision in the new draft based on suggestions from standing committee members and other sources, the report said.

In the third reading, "to maintain the legitimate rights and interests of SMEs" was inserted into the first section as one of the law's aims, and another clause added "the country protects the property rights and other legitimate rights and interests of SMEs and their investors."

Financial institutions should serve SMEs in an efficient and fair manner, and the country encourages financial institutions to provide SMEs with tailored products and services, according to the draft.

It added an improvement to support small companies in securing employees, as they have difficulties in attracting and retaining skilled workers.

After the previous two readings, which were made by the standing committee in November 2016 and June 2017, the draft revision has "become relatively mature," Sun said.

The law committee called on the standing committee to pass the draft during this bi-monthly session after deliberation, the report showed.

Although SMEs generate the majority of China's GDP and jobs, they have long been confronted with difficulties in retaining employees and getting bank loans, as well as facing high borrowing costs.

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THE Shenzhen-based electric carmaker BYD was selected as one of the “50 Most Admirable Chinese Companies” by Fortune magazine, while its two stocks were on the list of the new China “Nifty 50” released by U.S. investment bank Goldman Sachs, according to sznews.

BYD ranked fifth on the list of the “50 Most Admirable Chinese Companies” released by Fortune magazine, which showed that the company’s soft power has been recognized by its competitors.

The new China “Nifty 50” list released by Goldman Sachs chose 50 stocks with a minimum daily liquidity of US$470 million and an EPS (earning per share) growth of 23 percent between 2017 and 2019.

BYD is the only company with two stocks selected on the list, meaning the company is likely to be a strong player leading China’s future development, according to the report.

Founded in 1995, BYD principally engages in the rechargeable battery and automobile business, including new-energy vehicles and products such as rail transit, solar farms and energy storage stations. Its electric vehicles have been sold in over 200 cities in more than 50 countries and regions.

For many years, BYD has been promoting the use of e-buses in urban areas as a way to tackle air pollution and traffic congestion.

With a 1,000-person R&D team, the company has spent five years and invested 5 billion yuan (US$758 million) on the development of a monorail system, which provides a new solution to traffic jams in big cities.

BRUSSELS, Nov. 12 (Xinhua) -- The European Union(EU) on Saturday condemned a terrorist attack killing more than 40 people in southwestern Pakistan.

"The sadness we share with the Pakistani people reinforces our determination to continue and strengthen our cooperation with Pakistan in fighting all forms of terrorism," a spokesperson of the European External Action Service said in a statement.

"We express our condolences to the families of the victims and wish a speedy recovery to those who were injured," said the spokesperson.

At least 40 people were killed and over 100 others injured after a suicide blast hit a shrine in Pakistan's southwestern province of Baluchistan on Saturday night, according to local media and officials.

The blast targeted devotees who played Dhamal, a kind of mystic dance, at Shah Noorani Shrine located at a hilltop in Hub town of the province's Kalat region.

BEIJING, Sept. 22 (Xinhua) -- A guideline issued by the State Council of China requires local governments to assume the main responsibility in securing the safety of cultural relics.

"Recent years have seen frequent robberies and trafficking of cultural relics. From 2014, public security authorities nationwide have dealt with around 2,000 such crimes every year," Liu Yuzhu, head of the State Administration of Cultural Heritage (SACH) said Friday.

Cases committed by cultural-relics-related organizations accounted for 76.5 percent of all cases handled by SACH in 2016. The illegal dealing, storing and auctioning of cultural relics has been rampant in recent years, Liu said.

The guideline was released in order to intensify supervision and close loopholes in protection work.


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