SME Fair opens in Guangzhou
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This year’s China International Small and Medium Enterprises Fair is now on in the southern city of Guangzhou. The scale of the event reflects how much financial authorities value the contribution SMEs make to jobs and revenue in the overall economy.
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| This year’s China International Small and Medium Enterprises Fair is now on in the southern city of Guangzhou. |
Delegates from more than 50 countries and regions are at this event, along with more than 100-thousand participants. With an exhibition area of 120-thousand square meters, the fifth China International Small and Medium Enterprises Fair is composed of nine pavilions for various industries, including electronics and IT products and textile and garments. It aims to set up a platform of exchanges and cooperation for domestic and overseas SMEs.
The 4-day event will also include forums discussing everything from personnel training to financing and procurement. Chinese Vice Premier Zhang Dejiang attended the opening ceremony on Monday. He recognized the huge contribution of SMEs to social development.
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| This year’s China International Small and Medium Enterprises Fair is now on in the southern city of Guangzhou. |
Zhang Dejiang said smaller companies provide an immense pool of jobs, improve economic structures, and the ability and incentive to innovate. He also promised more government support for SMEs to help them get through funding problems and enhance their competitiveness in the market.
The Chinese government says SMEs, which make up 99 percent of all enterprises, are a vital force for the sustained development of the Chinese economy. Official figures show SMEs contributing over 50 percent to both China’s GDP and total tax revenues.
But since the beginning of this year, many SMEs across the nation have suffered operational difficulties due to the US sub-prime crisis and a global economic slowdown. To promote their development, China has been working hard to provide various preferential policies to support growth in these companies.
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