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Township Enterprise Makes Profits
Township enterprises chalked up profits of 272.4 billion yuan in the first half of this year, a jump of 14 percent over the same period last year, according to latest statistics from the Ministry of Agriculture.
The ministry credited Asia's economic recovery from financial crisis, the country's massive develop-the-west program and pro- active fiscal policy, as stimulating township firms' production and sales.
In the first six months of this year, township enterprises exported goods valued at 342.6 billion yuan, a 16 percent increase over last year's same period.
Many provinces have created industrial zones to accommodate township enterprises, helping the rural firms establish an efficient organizational structure.
However, difficulty in getting bank loans, arbitrary charges, fines and irrational quotas imposed by local government departments on township enterprises, have held back their development, said the official.
If township firms were to get more financial and policy support, they could generate ten percent more in profits, said the official.
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