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Hunan Promotes MSME Development

2017-06-28 T | T Download Print

On 27 June the United Nations General Assembly [UNGA] will celebrate for the first time the Micro-, Small and Medium-sized Enterprises (MSME) Day.

On 26 June, the Hunan Economic and Information Technology Commission announced that Hunan MSMEs have developed quickly increasing to 500,000, and constitute over 99% of all firms. They generated more than 50% of the provincial tax revenue and 60% of its GDP, while producing 75% of the innovations, and, creating 85% of all new jobs.

In a resolution dated 6 April 2017 the General Assembly designated 27 June as Micro-, Small and Medium-sized Enterprises Day. The goal is to encourage member states to facilitate observance of the day by increasing awareness and actions to support small business.

The CPC Hunan Provincial Committee and the People’s Government of Hunan Province have introduced policies and taken measures to promote MSMEs sustainable development. They implement national policies, create favorable environment for MSMEs development, and encourage entrepreneurship and innovations in MSMEs for transformation and upgrading.

In response to the UN’s initiative, administrative departments of middle and small-sized enterprises across Hunan have taken intensive measures to carry out national and provincial policies and share exemplary cases on small business development. This aims to inform MSMEs of policy updates, solve their problems in management, and promote sustained development.

Please refer to www.enghunan.gov.cn when using the article.

Translator: Xiao Juan

Chinese source: hunan.gov.cn