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SMEP, New Platform for High Quality Development of Zhejiang
2018-08-31 09:36:54

At the intersection of Jinhai Avenue and Binhai No.2 Road in Longwan District of Wenzhou City, five small and micro enterprise parks (SMEP) stand side by side, including the Yongxing Nanyuan SMEP, the Machinery Equipment Industrial Park, the Marine Science Innovation Park, the Fashion Industry SMEP, and the Copper Processing SMEP. The place has become fertile soil for the development of local small and micro enterprises.

 

By the end of June this year, Zhejiang has set up 590 small and micro enterprise parks, covering an area of 113,000 mu with more than 44,000 enterprises. In the first half of this year alone, 88 new SMEPs have attracted over 10,000 small and micro enterprises to start their business there.

 

Small and micro-sized enterprises are the characteristics and advantages of Zhejiang, as well as a power source of Zhejiang economic development and an important force for innovation and entrepreneurship. At present, there are 1.9 million small and micro enterprises in Zhejiang, accounting for 97 percent of the total number of enterprises in the province. Its private economy, dominated by small and micro enterprises, contributes 65 percent of the province's GDP, 54 percent of its tax revenue, 76 percent of its exports and 80 percent of its employment.

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