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Old Industrial Base Encourages Growth of Smaller Enterprises
Northeast China's Liaoning Province, home to one tenth of China's large and medium-sized State-owned enterprises, has mapped out beneficial policies for smaller enterprises development.
The province hopes that smaller enterprises will be engaged in high-tech, processing of farm products, environmentally-friendly projects as well as tertiary industry.
Liaoning has 400,000 small businesses with more than eight million employees, or 40 percent of all the employees in the province. The sector has yielded 129.9 billion yuan (15.7 billion U.S. dollars) of industrial added value in 1999, 73 percent of the added valued produced by the whole industry.
More small enterprises are encouraged to invest in public utility industry, housing development, urban infrastructure, transportation, tourism, and education.
A scientific and technical company has been established to support fund raising for small enterprises. The province is studying the feasibility of direct fund raising by these enterprises.
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