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Chinese SMEs won’t see widespread collapse in 2012

(People's Daily)

10:34, February 09, 2012

Edited and translated by People's Daily Online

Chinese tiny businesses won’t see widespread collapse or fracture of their capital chains. China’s small firms will advance against the difficulties and make steady progress, said Zhu Hongren, general engineer of Chinese Ministry of Industry and Information Technology, at a press conference recently.

Since 2011, China has strengthened support to small and medium-sized enterprises (SMEs). In 2012, China will focus on the development of innovative, entrepreneurial and labor-intensive companies, Zhu said.

How to make better growth and how to realize transformation and upgrade are the two outstanding issues that trouble the SMEs. He said that China will invest more than 3 billion yuan to support SMEs’ technological renovation in 2012.

China also plans to give SMEs more supports through public service. “We plan to establish a complete service system for SMEs during the 12th Five Year Plan period. At the same time, the governments at all levels will make a joint effort to build employment bases for SMEs.”


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