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Small and medium-sized enterprises (SME), which make up 99 percent of all enterprises in China, are a vital force for the sustained development of the Chinese economy, an official from State Economic and Trade Commission (SETC) said.
Jiang Qiangui, deputy minister in charge of the SETC, made the remarks Thursday at the opening ceremony of the two-day 2002 World Convention on Small and Medium Enterprises and China International SME's Commodities Fair held in Changzhou City of Jiangsu Province, east China.
She said the number of registered SMEs in China has exceeded eight million, and both industrial output and export volume of these enterprises made up 60 percent of China's total.
The Chinese government is giving much attention to the development of SMEs. A law on SME promotion has been approved and will be implemented next year to ensure these companies' healthy growth.
"SMEs also play an important role in easing unemployment by providing three quarters of employment opportunities in Chinese cities," Jiang said.
Ji Yunshi, governor of Jiangsu, attributed the economic power of the province mainly to booming SMEs.
Changzhou has set a blueprint to establish a manufacturing base in the Yangtze Delta area. Top on the agenda is to have SMEs join the supply chain of international corporations. SMEs have become a driving force for this city's economic growth.
Jiang said large-scale economy is not the only means of profit. Small-scale and variety economy is in tune with the trend of individuality.
(Xinhua News Agency September 20, 2002)
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