China’s publication on the Standards for Classification of Small and Medium-sized Enterprises (SMEs) were jointly promulgated by the Ministry of Industry and Information Technology, the National Bureau of Statistics, the National Development and Reform Commission, and the Ministry of Commerce on June 18, 2011. The Standards divide small and medium-sized enterprises (SMEs) into three categories: medium, small, and mini. The classification was established based on the factors of employee size, revenue, and assets amount with the combination of 16 industry sectors. For example, in the heavy industry:
The official publication is found in the Government website: http://www.gov.cn/zwgk/2011-07/04/content_1898747.htm An unofficial English version of the publication is illustrated in the link below: http://www.china-briefing.com/news/2011/07/07/china-issues-classification-standards-for-smes.html This Credit Insight is an extract from the book Happy Customers Faster Cash, China Edition and on sale at Amazon.
More companies sell on credit to their customers in China. This book shares with you, using statistical data, the true picture of payment behavior in China. It also contains lots of cultural insights for you to better understand the business environment in China. A chapter is dedicated to discuss various aspects of China company credit reports.
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AuthorAlexander has over 25 years of experience in Business Information Management and Information Technology. Previously, he has held leadership positions in the world’s leading Business Information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. In addition, he personally managed Hong Kong's Commercial Credit Bureau while working with D&B, and the Consumer Credit Bureau through his directorship at TransUnion Limited. Archives
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