Tianjin to host international forum
(CCTV.com)Small and medium-sized enterprises in China are hoping to attract more overseas funding. And this summer the city of Tianjin will host an international private equity forum to help them do that. The organizers have just held a signing ceremony ahead of the forum. The forum, to be held this June at Tianjin's Binhai New Area, will try to match small and medium-sized Chinese enterprises with foreign investors, providing much needed funds. Almost 99 percent of companies in China are small and medium enterprises, and they've been an engine of the nation's economic growth. But they lack the financial support enjoyed by big companies, making it harder for them to grow. The China International Private Equity Forum is expected to broaden the limited funding channel by absorbing more oversea investors to China. Organizers say they'll give 1000 Chinese companies the chance to meet with 100 foreign fund investors. Once reached an agreement, overseas fund will be invested to China's companies as equities, which will go to the market, to help the companies achieve sustained development. Hu Deping, vice chairman of All China Federation of Industry & Commerce, said ¡°Chinese enterprises should practice credit of honesty, as is advocated in Chinese culture, because cooperation must be based on credit.¡± Seminars and exhibitions will also be held at the forum.
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