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|Monday, April 16, 2001, updated at 11:41(GMT+8)|
Hunan Helps Smaller Firms Compete on Int'l MarketCentral China's Hunan province has decided to set aside one million yuan each year to subsidize the international exhibition expenses of its medium, and small sized firms.
Li Weiwei, president of the Hunan branch of the China Council for the Promotion of International Trade, a semi-official body, said the money will be used to subsidize the renting of space at international exhibitions.
Li said the move was part of efforts by the inland province to help the firms compete on overseas markets.
Medium and small sized firms with import and export licenses will be eligible applicants for the subsidy, while firms with products of a high technological content and great market potential will be given priority, said Li.
The branch plans to set up a service center for medium and small sized firms, offering such advisory and training services as laws regarding international trade, market analysis, and credit investigation of overseas firms, said the president.
Nearly 80 percent of the 1,600 members of the branch are medium and small sized firms, which are troubled by a lack of information about overseas markets and related experience, said Li.
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