Nonferrous Metals SMEs Eye National Meetings for Financing Support

SHANGHAI, Mar. 2 (SMM) – SMM did a Tele interview with China Nonferrous Metals Industry Association Deputy General Secretary Wang Huajun, who says the “Two Sessions” will absolutely provide financing support for medium-to-small sized businesses, which will help the majority of nonferrous metals SMEs.

Chinese SMEs faced survival pressures in 2011 due to a credit crunch, contracted orders, climbing production costs and declining profits. Financing difficulty became the major problem facing nonferrous metals SMEs from September as China tightened monetary control.

Asked which supportive policies will be provided, Wang said the Chinese government will absolutely publish policies aiding financing of SMEs. He emphasized that beneficiaries of these policies will also be limited to those in the real economy but investment or speculative sectors.

As for terminal demand of the nonferrous metals industry, Wang said China’s auto and home appliance production and sales will slow this year.