Editorial Note: On November 29th,the news--- More small and medium enterprises were boosted by the preferential policies of Municipal Government of Yichang---was published on the front page of People\'s Daily , aiming to show achievements made by Yichang city in deepening the reform comprehensively, further streamlining administration and delegating power to lower levels, as well as taking the initiative in promoting innovation in system. The news has been picked up and reposted by many newspapers and websites, including Sina, Netease, Sohu, Ifeng.

　　(Sanxia Daily, November 28th) "Thanks to the 300 million loans, or we could not have built a sense IOT lab", Nie Daojing, chairman of WTAU exclaimed,    when being interviewed about the policy of loan guarantee insurance promoted by the Municipal Government of Yichang.

　　WTAU is one of the SMEs specialized in developing sensor devices of cranes and it has drafted the national standard of safety regulations for bridge and gantry cranes with more than 30 patents. Nie said: “The largest asset of our company is our research and development team and their creative ideas; however, these cannot be used as guarantees for the collateral and loans from banks."

　　How to solve financial problems faced by the SMEs with sound development  trend and high contents of science and technology? Under this condition, the joint government banks of High-tech Zone in Yichang has signed the cooperation agreement on SME loan guarantee insurance business with insurance companies, and has established the tripartite cooperation model composed by the local government, Insurance companies and Banks to share the risk of loans aiming to help local SMEs solve the financing problems. The term of the loan is within one year with the maximum loan of 300 million per company, only taking  about 7% of the financing cost.

　　Yang Meiren, director of High-tech Zone in Yichang said "Just like a sprouting seed still needs energy to sprout out of the earth”. SMEs can gain a better development by supported guarantees for insurance and loans. So far, 14 companies have benefited from this new policy with the credit limit up to 39 million.

　　This is just a small part of comprehensive reform in Yichang. The government places much emphasis on streamlining administration and delegating power to lower levels and issues “Four Must” to reduce administrative procedures for examination and approval, including that economic activity that can be effectively regulated by the market mechanism must be canceled; undertakings that can be participated by social organization must be transferred to the social organization; where more convenient and effective management by the county\'s economic and social matters, economic and social matters which can be governed by county-level government more effectively must be carried out by counties; matters managed by township government which will benefit local people must be commissioned by the township government. The reform in administrative procedures for examination and approval has been carried out for seven times, resulting in the reduction of the number of municipal administrative examination and approval items from 1340 in 2003 to 72 in this year, only 5 percent compared with the number in the past. Besides, 80 percent of items have been completed within three sectors.

　　According to the data: 34770 new market entities have emerged in Yichang from January to September of 2014, and the number of newly registered enterprises reaches 5331 from March 1st to December with more than 5.3 billion of registered capital.  By Fu Wen (People\'s Daily, November 29th)