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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.
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