Hong Kong and Macao-funded SMEs get priority
There are about 1 million SMEs in Guangdong province, many of which are owned by Hong Kong or Macao investors.
Due to the global financial crisis, the province saw a decline of capital inflows from Hong Kong from January to October this year.
Yet investment in the tertiary industry rose in the past 10 months.
Based on the statistics released by the provincial economy and trade commission of Guangdong, 4,479 Hong Kong-invested projects was approved during the last 10 months in this province, which decreased 14.5% year-on-year.
Recently, a plan has been released to budget 2 billion yuan in the next two years to help Hong Kong and Macao-funded SMEs weather through the tough time.
Governor of Guangdong Province Huang Huahua said at the conference on the province’s SME development that Guangdong will adopt a series of measures to help the processing trade—especially those funded by Hong Kong and Macao investors—expand their businesses.
The budgets of 1 billion yuan for 2009 and 2010 will be used to subsidize processing trade enterprises to upgrade and relocate them in parks for industrial transformation while Hong Kong and Macao-funded enterprises will get priority, the governor added.
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