Monday's guideline on extending financial support to small and micro-sized enterprises marks a new move to create a more favorable environment for China's struggling small businesses.

According to the guideline issued by the State Council, the growth rate for credit channeled to small enterprises should not be less than total growth for credit and the increase in credit should not be less than the previous year's.

At the same time, financial institutions are required to raise the share of newly increased loans to small enterprises and make innovations in the financial services they provide to small companies.