By Qinghong Xu

In China, when referred to SMEs, often micro-size enterprises are also taken into account. These businesses play an important role in China’s economic development. In 2015, the micro, small, and medium enterprises accounted for 99 percent of the total number of enterprises, and their contributions to national gross domestic product, industrial gross output value, total sales, taxes, and exports were 58 percent, 74 percent, 59 percent, 48 percent, and 68 percent, respectively.