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People's Daily Online>>China Business

Zhejiang keeps closer eye on smaller private businesses

By Yu Ran  (China Daily)

13:22, December 09, 2011

SHANGHAI - Regular monitoring of small and medium-sized enterprises (SMEs) will be expanded in Zhejiang province to avoid the sudden flight of business owners and labor disputes in the coming New Year and Spring Festival.

Under the initiative, SME's turn in detailed monthly reports on their business performance, whether salaries have been paid on time, and the employment situation. The program will be expanded to cover 11 cities by the first quarter of next year.

In addition, the province intends to monitor more SMEs in the cities like Wenzhou, Yiwu and Taizhou because many of the private businesses in those cities have financial problems.

"We started expanding the SME monitoring in September, doubling the number of SMEs from 300 to 600, and adding more questions about solvency to the forms," said Hou Siyang, an official from employment service department of the Wenzhou bureau of labor and social security.

"Because of the rapid increase in the number of runaway business owners in the past months - especially since April - we have to pay more attention to SMEs, particularly financially strapped mini enterprises," said a senior officer from Zhejiang provincial bureau of employment management and service who gave his name only as Ren.

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