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More than 5,000 delegates from home and abroad have flocked to the capital of south China's Guangdong Province to take part in the first fair for small-and medium-sized enterprises (SMEs).
The fair, jointly organized by the National Development and Reform Commission, the State Administration for Industry and Commerce and the Guangdong provincial government, is showcasing the great achievements of the country's SMEs.
With 1,860 stands and covering an area of 40,000 square meters, the five-day event displays products in eight fields.
"About 99 percent of enterprises operating in China are SMEs, making a significant contribution to the national economy," said Xu Shangwu, secretary-general of the fair's organizing committee.
There are currently 3.6 million registered SMEs in China, plus over 27.9 million self-employed businesses, which account for 99.6 percent of all enterprises in the nation.
SMEs contributed 55.6 percent of China's GDP, 74.7 percent of its industrial output, 62.3 percent of exports, 65 percent of patents and 75 percent of technological innovations last year.
Delegates from all provinces and regions, apart from Tibet and Taiwan, are taking part in the fair.
"We have confidence in the fair," said Deng Huilin, an official from Central China's Hubei Province, who is leading a 150-member delegation to promote its fast growing SMEs in agricultural products processing and environmentally friendly facilities.
More than 1,200 visiting businessmen from more than 30 countries and regions, including the United States, Canada, the United Kingdom, France, Sweden, Germany, Russia and Greece, are also taking part in the fair.
A total of 24 of the world's Top 500 enterprises are sending purchasing delegates to the event, expecting deals for art crafts, textile, household appliance, hardware, telecommunication facilities, and food and medicines.
They include global retailing giants Wal-Mart, Carrefour, Metro, Japan-based Marubeni and Ito-Yokado, UK-based Tesco and indoor decoration giants B&Q and Ikea.
Seminars focusing on frequent queries by SMEs, such as financing issues and legal support will also be held during the fair.
A seminar on technology transfers between research institutes and universities and SMEs is set to be held tomorrow.
(China Daily October 19, 2004)
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