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China’s Small and Medium-Sized Industrial Companies See Steady Growth

Beijing, April 13 (QNA) – China’s small and medium-sized industrial
companies showed resilience to economic slowdown, with double-digit
growth in both revenue and profits last year, official figures showed
on Saturday.

Industrial SMEs reported a 13.9% increase in revenue from their main
businesses and a 15.8% rise in profits, according to the Ministry of
Industry and Information Technology.

The data were collected from industrial SMEs with annual business
revenue of more than 20 million yuan (3.2 million US dollars) from
their main business operations, (Xinhua) news agency reported.

While acknowledging their vitality, the ministry warned of daunting
challenges including high financing costs and weak demand.

To help SMEs fare better, provide steady jobs and support growth,
authorities have adopted policies such as tax breaks to ease their
burden. (QNA)

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