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 businesses make up
about 99.6 percent of China's enterprises, and they accounted for 70 percent of
the country's total foreign trade worth 1,422.12 billion US dollars last
year, according to the China Small and Medium Enterprise Index of Economic
Development released by Nankai University.
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.
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