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Over 70% of SMEs to show no profit

(Global Times)

10:10, October 24, 2011

Around 72.45 percent of small and medium-sized enterprises (SMEs) will achieve no profit or even suffer a small deficit over the next six months, while 3.29 percent will suffer a huge deficit or even go bankrupt, according to a survey by the National School of Development in Peking University.

The survey showed that the average profit that SMEs have gained this year dropped by between 30 and 40 percent year-on-year. Soaring materials and labor costs were the main contributors to the fall in profits. Material costs have risen by between 20 and 50 percent, with textiles rising as much as 80 percent.

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