A difficult but necessary beginning to recovery
Updated: 2013-03-28 07:39
By Yu Ran (China Daily)
|
|||||||||||
Zheng added that the solution to solving the difficulties related to moneylending is to rebuild the credit rating system.
At the moment, most members of the association face increasing costs of labor, materials and expenses as they strive to restructure their businesses.
"Hopefully the government will issue policies to encourage private SMEs in the ongoing industrial restructuring to produce more value-added products with higher quality, better designs and at lower costs," said Zheng.
Zheng added more enterprises are focusing on manufacturing and designing high-quality and personalized products aimed at middle-class consumers instead of relying on a large amount of orders to meet mass-market demand.
Holding a similar opinion, Pan Jianzhong recognized that the reform will not bring any changes to his enterprise, which is already undergoing a restructuring.
"Raising the efficiency of all aspects of shoemaking is the only way to stand out amid tough competition," said Pan, manager of Juyi Group Co Ltd, a shoemaker which employs around 5,000 people in Wenzhou and produces 12 million pairs of shoes annually.
It was Pan's bold idea a decade ago to introduce a degree of automation unseen in most of the city's shoemaking factories.
Pan also shortened the workflow process and made the overall production process more efficient.
"I prefer to take the advantage of the developing economic growth in Wenzhou to extend my cooperation with international brands and increase the quality of my products," said Pan.
Pan added that private enterprises have to find their own ways to restructure.
Contact the writer at yuran@chinadaily.com.cn
Related Stories
Investors pull out of Wenzhou property market 2013-03-27 07:41
Wenzhou mayor seeks central govt help for reforms 2013-03-14 09:25
Final approval sought for Wenzhou private-financing regulation 2013-03-11 19:22
Wenzhou makes progress in property market 2013-02-25 20:11
Wenzhou to attract more investment 2013-02-16 09:25
Today's Top News
Police continue manhunt for 2nd bombing suspect
H7N9 flu transmission studied
8% growth predicted for Q2
Nuke reactor gets foreign contract
First couple on Time's list of most influential
'Green' awareness levels drop in Beijing
Palace Museum spruces up
Trading channels 'need to broaden'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |
Firms crave cyber connection |