Home / Knowledge / News / Guangdong SMEs to receive 10 Bn yuan aid
Guangdong SMEs to receive 10 Bn yuan aid
06
Dec '08
In the face of global financial crunch, small and medium-sized enterprises (SMEs) are finding it difficult to maintain their stability. Thus Guangdong province has approved a monetary aid of 10 billion yuan.

Guangdong, one of the key manufacturing hub of China, for the past few months is struggling to cope with slumping exports, resulting in closures of numerous manufacturing units and labour unrest, due to rising unemployment.

Of the 10 billion yuan, one billion yuan each will be utilized for technology innovation and Government mortgage for bank loans, and 200 million yuan will be used to expand exports.

The on going recession across the globe, especially in the US and EU, major consumers of Chinese goods, has badly hit the exports of the country. Available statistics show that in China more than 67,000 SMEs and 10,000 textile factories have closed down in the first half of 2008.

Guangdong, that houses over 60,000 private companies and Dongguan, one of its major manufacturing cities, around 700 companies had closed down in October. Experts estimate, than in the coming days, the number is likely to cross 1,000 after Christmas.

The central Government had recently announced 4 trillion yuan incentive package to boost economic growth.


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Urmil Arya

Sushila International, a well established textile organisation established ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search