Guangdong Province is accelerating the construction of a credit guarantee system to help privately-run small-and medium-sized enterprises (SMEs) expand their financing channels.
Guangdong Province Communist Party Deputy Secretary Ou Guangyuan said the provincial government would try to improve the environment for SMEs to aid their future expansion.
The province's move aims to help its myriad SMEs overcome their financing and development difficulties.
Ou remarked that SMEs have played an increasingly important role in Guangdong's economic development in recent years.
Guangdong had registered a total of 353,000 privately-run SMEs by the end of June, which employ 3.3 million people.
The southern Chinese province bordering the Hong Kong and Macao special administrative regions, had a total of 75 guarantee companies by the end of June, an increase of 18 since the end of 2002.
