SMEs very import economic factor in China too

Not only in Germany, but also in China small and medium-sized entities (SMEs) play in important role for the development of the national economy and the labour market as well as for innovation. This fact was not announced by some Western economist or policy maker, but by Ou Xinqian, who is deputy director of the governmental commission for development and reform, on the occasion of the 17th party convention of China´s Communist Party.

In addition, at a nationwide SME congress Ou said that small and medium-sized entities make an ever increasing contribution to the growth of the Chinese economy. Their share in GDP, tax revenue as well as in import and export volume amounted to more than 50%. Furthermore, SMEs had become important employers in China giving work to more than 75% of all gainfully employed people. SMEs also had an important influence on the expansion of markets and the promotion of co-operations with foreign partners. So fare more than 4.3 million SMEs had been registered in China. GERMAN