The Chinese government vowed to continue to deepen its reforms, improve governmental functions and perfect taxation, finance and industry support policies for small- and medium-sized enterprises, said Vice Premier Ma Kai.

The moves are targeted at accelerating the development of the sector, he noted during the 21st APEC SME Ministerial Meeting, which opened on Friday in Nanjing.

Ma gave a welcome speech during the opening ceremony and said: "SMEs provide the key impetus for the national economy and social development. They are the origin of innovation and vitality, which also function as a main force to upgrade the economy."