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Proposal asks state to provide loan guarantees for SMEs
March 5, 2010, Friday
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ZONG Qinghou, Chairman of Wahaha Group Co
The government should provide guarantees to make it fair for small and medium-sized enterprises to get loans from banks or loan firms, Wahaha Group Chairman Zong Qinghou said in a proposal submitted to the annual session of the National Committee of the Chinese People's Political Consultative Conference this year.
Zong said although SMEs have been playing a leading role in China's economic expansion and have created a huge number of jobs, they are long battered by difficulties getting loans, which curb their further development. Banks and loan companies are still reluctant to lend to SMEs, compared to big state-owned companies, due to higher risks involved and the lack of guarantees for SMEs.
"The government has to shoulder more responsibilities in helping SMEs cope with this problem," Zong said in the proposal.
The government should provide guarantees to make it fair for small and medium-sized enterprises to get loans from banks or loan firms, Wahaha Group Chairman Zong Qinghou said in a proposal submitted to the annual session of the National Committee of the Chinese People's Political Consultative Conference this year.
Zong said although SMEs have been playing a leading role in China's economic expansion and have created a huge number of jobs, they are long battered by difficulties getting loans, which curb their further development. Banks and loan companies are still reluctant to lend to SMEs, compared to big state-owned companies, due to higher risks involved and the lack of guarantees for SMEs.
"The government has to shoulder more responsibilities in helping SMEs cope with this problem," Zong said in the proposal.
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