Small and medium-sized enterprises (SMEs) have emerged as an
important engine of China's foreign trade growth, according to a
recent industrial report.
More than 40 million small and medium-sized business make up
about 99.6 percent of China's enterprises, and they accounted for
70 percent of the country's total foreign trade worth US$1,422.12
billion last year, according to the China Small and Medium
Enterprise Index of Economic Development released by Nankai
The index shows that nearly 60 percent of China's gross domestic
product was generated by small and medium-sized enterprises last
year. SMEs account for more than 48.2 percent of the country's
taxation revenue and 60 percent of the total sales volume.
Seventy-five percent of urban-based employees work for SMEs,
said the index.
The Tianjin-based University was commissioned by the National
Development and Reform Commission and the Finance Ministry to
compile the report.
(Xinhua News Agency December 1, 2006)