Firms to benefit from industrial adjustment

The process known as "double transfers" is beginning to play an important role in the economic structural adjustment in Guangdong, said a senior official of the organizing committee of the China International Small and Medium Enterprises Fair (CISMEF).

The concept of double transfers was first put forward by Wang Yang, the Party secretary of Guangdong province at the end of 2007.

"It features the transfer of part of the lower value-added and labor-intensive industries to eastern, western and northern areas of Guangdong and even outside the province, and the transfer of the surplus rural labor to urban areas to promote the optimal distribution of the human resources for a rapid economic growth," said Yang Jianchu, deputy secretary-general of the CISMEF Organizing Committee.