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China Supports Small Enterprise Development
China is speeding up development of small and medium sized enterprises in its western regions to make full use of capital owned by individuals and non-governmental enterprises.
The central and local governments have worked out preferential policies for small and medium sized enterprises in western China, said Wei Dong, an official with the State Economic and Trade Commission (SETC), at a national conference held recently in Chongqing, the largest metropolis in the west.
The SETC will build a system to promote development of small and medium sized enterprises and help them gain experience of other countries.
At present, 99 percent of the registered enterprises in China, or 10 million, are small in scale. Their combined industrial output value accounts for 60 percent of the country's total.
They play a vital role in absorbing surplus labor, accelerating the pace of urbanization and promoting economic growth in western China, though many of them are confronted with such problems as poor equipment, lack of well-trained workers and inflexible mechanisms.
Shaanxi and Gansu provinces and Xinjiang Uygur Autonomous Region have drawn up a set of measures to support expansion of small enterprises. And Chongqing is offering favorable policies for small enterprises in terms of credit guarantee, information, technology and services to make them more competitive in domestic and world market.
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