SMEs to be new engine for regional cooperation

CHANGZHOU - Participants in an international small- and medium-sized enterprises forum said Thursday that SMEs will become a significant engine for regional economic cooperation.

A total of 150 officials, diplomats and entrepreneurs from 19 countries attended the fourth session of the China-West Asian and North African Countries Small & Medium Enterprises Cooperation Forum, which concluded Thursday in the city of Changzhou in east China's Jiangsu province.

"SMEs have played an irreplaceable role in raising fiscal revenues, generating more jobs and improving the structure of the economy. We believe that SMEs' continued growth and development is the key to realizing regional prosperity," said Xu Kemin, director of the SME division of the Ministry of Industry and Information Technology.

China's SMEs form the bulk of the country's private investors, accounting for 99 percent of China's registered enterprises and more than 65 percent of the total GDP, according to official data.

Chinese entrepreneurs shared their experience regarding the ways in which the government supports SMEs, such as by creating multiple financing channels and providing market information, as well as seeking potential for future cooperation with West Asian and North African countries.

Li Peng, head of the Middle East marketing department of Trinasolar, a leading PV company, said West Asia and North Africa have significant potential.

"Countries in these regions have rich natural resources and officials there have the vision and enthusiasm to develop SMEs business, particularly in the area of renewable energy," he said.