Let us see some substance behind SME rhetoric

In recent months there's been a slew of initiatives aimed at easing China's transition from an export-driven, to a consumption-led economy. Topmost among them has been the emphasis on fostering young high-impact and high-growth startup companies.

With government pledges of stronger policy and funding support, and easier regulations ringing in their ears, small, private enterprises are now the ones being championed rather than the unwieldy, often debt-laden State-owned firms, which dominated the landscape for decades.

The goals of this "mass entrepreneurship" are raising national productivity and industrial quality, and achieving less dependence on Western trading partners.