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District values its SME biz
By Tan Weiyun |
November 30, 2009, Monday
|
Print Edition
Print Edition
THE Fengxian District government during the past 10 years has launched a series of preferential policies to assist the district's small and medium-sized enterprises, especially those privately owned, in an effort to help them survive and thrive.
SMEs contribute significantly to Fengxian's economic development as they contribute more than 90 percent of the district's tax revenue.
A special fund of more than 1 billion yuan (US$147 million) was set up in 2006 to foster and support SMEs. In addition, more than 20 million yuan is granted each year to encourage technical innovation and brand building and subsidies worth another 20 million yuan are available for energy saving and consumption reduction.
Since 1999 when the Fengxian Loan Center for SMEs was set up, the center has granted more than 535.8 million yuan in loans.
This year, three finance houses and a village bank were established by Shanghai Pudong Development Bank. By the end of September, the financial houses had granted up to 806 million yuan in loans to SMEs, while the village bank, opened for less than two months, granted about 15 million yuan in loans.
Fengxian is also the city's first to set up a service center for SMEs, offering free consulting and lectures to enterprises. A hotline helps the companies raise funds or apply for SME special grants from the central government as well as giving advice on stock market listings.
Last month, the 3rd China SME Festival held in Fengxian District attracted more than 800 representatives from throughout China.
As the cradle of Shanghai's private economy, Fengxian plays an increasingly important role in the city's economic development and is becoming the country's new hub of small and medium-sized enterprises.
Fengxian's SMEs now number 48,459, accounting for 99.9 percent of enterprises in the district, and have more than 350,000 employees. The tax revenue they generated last year accounted for 96 percent of the total.
The district boasts a nation-rated export processing zone and seven large-scale industrial parks engaged in new materials manufacturing, new energy development, biomedical R&D, chemical engineering, yacht manufacturing, power transmission and distribution, electronics, medical services, logistics and modern agriculture.
SMEs contribute significantly to Fengxian's economic development as they contribute more than 90 percent of the district's tax revenue.
A special fund of more than 1 billion yuan (US$147 million) was set up in 2006 to foster and support SMEs. In addition, more than 20 million yuan is granted each year to encourage technical innovation and brand building and subsidies worth another 20 million yuan are available for energy saving and consumption reduction.
Since 1999 when the Fengxian Loan Center for SMEs was set up, the center has granted more than 535.8 million yuan in loans.
This year, three finance houses and a village bank were established by Shanghai Pudong Development Bank. By the end of September, the financial houses had granted up to 806 million yuan in loans to SMEs, while the village bank, opened for less than two months, granted about 15 million yuan in loans.
Fengxian is also the city's first to set up a service center for SMEs, offering free consulting and lectures to enterprises. A hotline helps the companies raise funds or apply for SME special grants from the central government as well as giving advice on stock market listings.
Last month, the 3rd China SME Festival held in Fengxian District attracted more than 800 representatives from throughout China.
As the cradle of Shanghai's private economy, Fengxian plays an increasingly important role in the city's economic development and is becoming the country's new hub of small and medium-sized enterprises.
Fengxian's SMEs now number 48,459, accounting for 99.9 percent of enterprises in the district, and have more than 350,000 employees. The tax revenue they generated last year accounted for 96 percent of the total.
The district boasts a nation-rated export processing zone and seven large-scale industrial parks engaged in new materials manufacturing, new energy development, biomedical R&D, chemical engineering, yacht manufacturing, power transmission and distribution, electronics, medical services, logistics and modern agriculture.
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