The China Association of Small and Medium-Sized Enterprises (SMEs) is scheduling a series of matchmaking event in 14 cities this year to introduce SMEs to new financing sources, China Daily reported on Monday.
The events are aimed to alleviate the difficulties Chinese SMEs have been ecountering during this tough period of economic slowdown . According to data from the Chinese Association of SME (CASME), in 2008, more than 700,000 SMEs went bankrupt.
According to China Daily, Li Zibin, head of the Chinese Association of SME (CASME) said that “equity financing can become a major resolution to the problem, given that SMEs usually don’t have enough credit or guarantees to obtain bank loans”.
Last August, a State Council executive meeting approved measures to help SMEs overcome financing difficulties.