SMEs thrive as new momentum to economic growth in Guangzhou

Yuan Jianhua will never forget the subsidy from the local government in 2002 to help his company survive. It has now become a domestic leader in the development and production of laboratory consumable products.

"My experience tells me that a startup needs at least 10 years of survival and another 10 years to develop and succeed. Unfortunately, a big number of startups died in the first 10 years, as fund shortages were a major problem," said Yuan, president of Guangzhou Jet Bio-Filtration based in South China's Guangdong province.

He founded the company in Guangzhou Development District in 2001, which is under the administration of Huangpu district.