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Car Audio Group Urges More Supporting Policies for SMEs in China

SMEs in China are facing difficulties in further development due to the weakening global demand amid rising labor and material costs. Car Audio Group, as a deputy in the car audio industry, urged more supporting policies to help SMEs.

Shenzhen, China, February 25, 2012 --( Due to the rising material and labor costs, small and medium-sized enterprises (SMEs) in China are facing great challenges in their business development, especially under the current weakening global demand. Lawmakers in Shanghai urged the local government to provide more favorable policies to support the SMEs.

In the Shanghai People’s Congress, the deputies of SMEs expressed their concerns for the current business environment both domestic and international, and urged on policies that would focus on the bank loans increase, tax discounts, improvement of government department’s efficiency.

The deputies are heads of SMEs from different industries, which are under great pressure of the global trading environment.

“We hope the government will pay more attention to the SMEs in the car audio industry,” Joseph Lee said, a senior officer of the Car Audio Group at “As a small and medium-sized manufacturer of original car audio, car stereo, car radio and auto radio products, we need support from the government, more favorable policies to improve our competitive edges.”

In the Congress, Joseph addressed his organization’s view that his company, as well as others in the car audio industry, needs help from the government to improve the business environment urgently, not only increasing the quota of bank loans for manufacturers of car audio, car stereo, car radio and auto radio.

Deputies in the garment industry lent support to Joseph’s view. They pointed out that it took a very long time to get approval for the operation of their newly built offices and warehouses.

“We hope the efficiency for approval can be improved,” Joseph said. “New logistic centers or warehouses for products of car audio, car stereo, car radio and auto radio are under urgently needed.”

Not satisfied with the current bank loan arrangement to mainly support the huge-scale state-owned companies, some deputies urged the banks to offer more loan quota for the SMEs.

“We think the meeting is successful,” Joseph said. “Our concerns are raised, and we hope some favorable policies will be launched very soon.”

Deputies in the e-commerce industry believed that they can raise contribution to the local economy if new supporting polices would be announced.

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Car Audio Group
Gile Lai
+86 137 1513 3709

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