Small firms in western region shrink
By Hu Xiaocen |
June 19, 2012, Tuesday
|
Print Edition
Print Edition
SMALL and medium-sized enterprises in China's western region were more vulnerable than those on the east coast due to the deteriorating external market and tightening internal environment last year.
The Bank of Communications and Fudan University said in a report yesterday that the growth index of SMEs in the second half of 2011 showed companies posted a slower growth of 96.91. A figure above 100 signals expansion from the previous period, and below 100 indicates contraction.
Small businesses in the western region contracted significantly as the index read as low as 85.12, according to the report.
"The western areas are relatively lagging behind in economic development. The SMEs there are less profitable than competitors in the costal areas. They are severely impacted by the sluggish economy," the report said.
Firms in the south, east and central regions grew slightly in the second half of 2011.
The Bank of Communications and Fudan University said in a report yesterday that the growth index of SMEs in the second half of 2011 showed companies posted a slower growth of 96.91. A figure above 100 signals expansion from the previous period, and below 100 indicates contraction.
Small businesses in the western region contracted significantly as the index read as low as 85.12, according to the report.
"The western areas are relatively lagging behind in economic development. The SMEs there are less profitable than competitors in the costal areas. They are severely impacted by the sluggish economy," the report said.
Firms in the south, east and central regions grew slightly in the second half of 2011.
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