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Changes Needed to Improve Development Environment for SMEs
Officials, business executives and experts attending the on-going APEC SME Business Forum agreed that the development of small and medium-sized enterprises (SMEs) is hindered by a lack of practical services from their governments.
A report by the Pacific Economic Cooperation Council shows that despite the efforts the economies of the Asia-Pacific Economic Cooperation (APEC) have made to help SMEs over the past years, only 25 percent of the member economies offer "one-stop" services on policy consulting, which SMEs consider the most convenient and practical services for their business operations, especially in their overseas operations.
The participants from Shanghai said the success of SMEs depends not only on their own development capability and competitiveness, but also on the government's support in the form of policies, capital, technology and personnel.
China, which is to join the World Trade Organization soon, has adopted a series of measures to help Chinese SMEs. What is most encouraging to SME executives is that the country's first SME promotion law has been drafted and is expected to be submitted to the top legislature for consideration before the end of this year.
In Shanghai, an economic powerhouse of China, a local decree on promoting SME development has been promulgated.
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