| Abstract: | Small and medium-sized enterprises (SMEs) play an integral role in China’s economy.About 99 percent of Chinese enterprises are SMEs which provide nearly 80 percent of job opportunities in urban areas and contribute 60 percent of the country’s GDP.Access of funds has long been a problem for Chinese SMEs as they are often considered too risky and banks prefer to lend to big companies,particularly reputable stateowned enterprises.But banks can do more to support SMEs,said Som Subroto,global head of SME Banking at Standard Chartered Bank in an article for Beijing Review.Edited excerpts follow. |
