The First China Small and Medium Enterprises Fair (CSMEF) opened Monday in the Huacheng Exhibition Center in Guangzhou, attracting some 5,000 purchasers from around the world.

Vice Premier Zeng Peiyan sent a letter of congratulations to the fair organizers, expressing the hope that the fair would become a successful venue for small and medium enterprises (SMEs), reported Shenzhen Daily.

Zhang Dejiang, member of the Political Bureau of the CPC Central Committee and secretary of the CPC Guangdong Provincial Committee, Huang Huahua, Guangdong governor, Zhang Xiaoqiang, vice director of the national development and reform commission, as well as other senior officials attended the opening ceremony.

"The fair will greatly encourage the SME development," Huang Huahua told the opening ceremony.

"I believe the fair will definitely grow into a brand event for SMEs," he said.

Running from Monday to Friday, the fair is sponsored by the National Development and Reform Commission, the State Administration for Industry and Commerce, as well as the Guangdong Provincial Government.

As many as 1,950 SMEs from across China are displaying products ranging from household appliances and garments to food and medicine, many of which are well known nationwide.

Guangdong enterprises, many of which are exhibiting advanced electric products, occupy almost half of the 40,000-sqm exhibition hall.

"Guangdong's small and medium enterprises greatly value the technological innovation and they always come up with new products. That's what we should learn," said an entrepreneur from Jiangsu Province.

During the five days, a series of conferences and promotional activities will also be held to provide a platform for government officials and entrepreneurs to share experiences and views on SME development.

All of China's provinces, municipalities and autonomous regions except Taiwan Province, as well as Hong Kong and Macao SARs, have sent government delegations.

SMEs have played a significant role in China's national economy. According to statistics, China had more than 3.6 million registered small and medium enterprises and 27.9 million self-employed household firms by 2003. They generated 55.6 percent of the entire national Gross Domestic Product (GDP).

Moreover, more than 75 percent of the technical innovations and 80 percent of the new products in China were developed by SMEs, which own 65 percent of national patents.

Source: Shenzhen Daily