China banks on SMEs for growth

The Communist Party's reform manifesto aims to level the playing field for privately-owned small and medium enterprises.

All those western market analysts who are worried and reacting negatively to the ‘slowdown’ in China perhaps need a lesson in reading Chinese economic tea leaves. The tea leaf reading also needs to include an understanding that China is reformatting its economy with the intent of shifting from dominance on state-owned business to reliance on small and medium enterprises.

I had such a lesson in Macau last week attending the International Small Business Pan-Asia Congress.

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