Business / Economy

Guangdong city Jiangmen wants to be hub for small, micro firms

By Qiu Quanlin in Jiangmen, Guangdong ( Updated: 2016-07-21 17:10

Jiangmen, in the western Pearl River Delta, is positioning to become a major base for development of small and micro firms, following China's promotion of entrepreneurship and innovation as a driver of the country's economic transition, the city mayor said.

According to Mayor Deng Weigen the city has established more than 40,000 new small and micro firms since June last year, of which about 1,000 are technology-driven entities.

"We are making great efforts to simplify registration procedures, promoting better services for small land micro firms, especially the technology-driven ones," said Deng.

In 2015, technology transaction in Jiangmen increased by 56.8 percent year-on-year, according to Deng.

The city held a weeklong activity recently focusing on innovation and entrepreneurship, in which 112 projects from young overseas Chinese and domestic entrepreneurs were promoted.

The local government has teamed up with the Peking University to publicize a report of innovation and entrepreneurship index, which shows the activities of small and micro firms.

According to the report, the index of Jiangmen's innovation and entrepreneurship rose 73 percent year-on-year in 2015.

Jiangmen has become one of the 16 pilot cities for development of small and micro firms under the country's drive of promoting innovationand entrepreneurship.

The central government has been promoting entrepreneurship and innovation, or so called "shuangchuang", to boost innovative activities as a way to ride out the major economic transition and maintain sustainable growth.

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