This Day, That Year

Item from May 9, 1992, in China Daily: China will set up a development platform for its tens of thousands of small and medium-sized companies to showoff their products and services, and attract foreign cooperation.

Private companies are now China's main engine of economic growth, accounting for more than 50 percent of the country's GDP.

Despite slowing growth in the world's second-largest economy, its SMEs have reported rising net profits, thanks to a series of preferential policies.