Home / Knowledge / News / Guangdong SMEs to receive 10 Bn yuan aid
Guangdong SMEs to receive 10 Bn yuan aid
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

Textiles | On 24th Oct 2016

Indian govt plans roadshows to promote textile exports

The Indian government has planned to conduct roadshows to boost the...

Textiles | On 24th Oct 2016

TPP may hit roadblock

The 12-member Trans-Pacific Partnership (TPP) that was signed earlier ...

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search