Inadequate awareness of SMEs' importance

A reform agenda unveiled by the Chinese government last month promises to further free up markets and build a fair system of market access for small and medium-sized companies, says an expert with the Chinese Academy of International Trade and Economic Cooperation.

SMEs are one of the main engines driving national economic development, said Zhou Mi, a professor with the Academy, which is affiliated with the Ministry of Commerce.

Government statistics show that China's SMEs provide more than 80 percent of the country's total jobs and the majority of all technological innovation. They also contribute more than half of the total tax revenues.