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 | Thursday, April 20, 2000, updated at 09:35(GMT+8) | ||||||||||||
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China to Hold Int'l Fair for Medium, Small FirmsChina will hold an international fair for medium-sized and small enterprises in September, organizers announced.Through this event, China's medium-sized and small enterprises may gain a better understanding of the technological level of their counterparts abroad. The fair will also give both sides a chance to expand technological, economic and trade cooperation. The China International Commodities Fair will be held in the city of Changzhou in eastern Jiangsu Province from September 20-24, organizers said at a press conference. The fair will be sponsored by the State Economic and Trade Commission, China Council for the Promotion of International Trade, and the Jiangsu provincial government. Support will be lent by the World Assembly of Small and Medium Enterprises, and the United Nations Industrial Development Organization. Jiang Qiangui, deputy director of the State Economic and Trade Commission, said at the press conference Wednesday that medium-sized and small enterprises play an increasingly important role in China's national economy. At present, their industrial output value, pre-tax profits and exports account for 60 percent, 40 percent and 60 percent of the country's total, respectively. Meanwhile, they provide 75 percent of the new jobs in cities and towns, she said. China has more than eight million medium-sized and small enterprises, accounting for 99 percent of the country's total businesses, officials said. Changzhou, located on the south of the Yangtze River at the lower reaches, has a history of more than 2,500 years. It has modern industries famous for the production of diesel engines, speed trains, buses, new-type building materials and blue jeans. Changzhou's deputy mayor Yang Dawei predicted that more than 100 firms from 30 countries and regions, as well as 20,000 visitors, will attend the fair. During the fair, participants will be able to have trade talks, transfer high technological items, and order goods. Organizers will also hold a seminar on opportunities and challenges facing China's medium-sized and small enterprises that will arise following the country's expected entry into the World Trade Organization.
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