Chinese Government Provides Strong Support for Small Businesses in China
East Bridge Investment Group. Corp
EBIG Stock Guru Profile
East Bridge focuses on Initial Public Offerings (IPOs), joint ventures and merchant banking services in China and India.
Chinese vice-premier recently noted China’s strong support for small and medium-sized enterprise development in China. With the specific backing of China’s government, SME’s in China have entered a new stage of accelerated development. The very companies the government itself notes are crucial in the development of SME’s East Bridge is there it support! SME can take a company with a strong business model, good opportunity and guide them toward permanent success!
EastBridge divides its operations into individual business units by industrial categories which include electronics, real estate, auto, metals, energy, the environment, bioscience, and food. It targets potential clients in India and on Mainland China, Hong Kong, Macao and Taiwan. EastBridge earns fees and stock equity in the companies it takes public as well as in merchant banking services. East Bridge provides access to U.S. funding for companies with strong potential.
China recognizes that small and medium-sized enterprises [SMEs] are important components of the national economy. Most of China’s SMEs are non-state-owned business organizations. The Central Committee and the State Council attach great importance to the development of small and medium-sized enterprises and the non-state-owned economy. The report to the 16th CCP National Congress explicitly stated:
We must unswervingly consolidate and develop the state-owned economy and unswervingly encourage, support, and guide the development of the non-state-owned economy; we shall further free and invigorate small and medium-sized state-owned enterprises, and we shall make the most of the advantages of the important role played by the individual, private, and other non-state-owned economies, thus better promoting economic growth, creating more jobs, and activating the market.
Keith Wong, CEO of EastBridge, understands this and is working to find the very companies most benefitting from China’s rapid progress in promoting small businesses. In China he negotiates with new listing clients for EastBridge Investment Group. His most recent targets are from the real estate, truck making, construction and food industries in Anhui, Beijing and Guangdong provinces.
These companies are generally medium sized and profitable and they have been in business for several years. EastBridge assists these companies with the process of going public in the U.S. by providing the consulting, accounting, auditing and legal resources. This is rocket fuel for these established companies.
EastBridge and its shareholders benefit from the stock holdings in these client companies once they become public, and with the Chinese government promoting the growth of small and medium sized enterprises, EastBridge benefits.
The State Council promulgated “Several Opinions of the State Council on Encouraging, Supporting, and Guiding the Development of Individual, Private, and Other Non-State-Owned Economies” and put forward the requirements for the implementation of the growth of small and medium-sized enterprises in the “Guidelines for the 11th Five-Year Plan on National Economic and Social Development.”
Remarkable Achievements Are Scored in China’s SME Development
SMEs, as a vibrant economic group, are playing an increasingly important role in helping the economy prosper, promoting growth, increasing employment, and promoting innovation and have become an important force in promoting economic and social development. In today’s world, both developed and developing countries have attached great importance to the development of SMEs. The United States, Japan, Germany, and other economic powers have a group of strong, competitive SMEs; many large international enterprises and multinational companies developed from small and medium-sized enterprises in recent decades as well.
Since the beginning of reform and opening up, China’s small and medium-sized enterprises and the non-state-owned economy have grown rapidly. During the “10th Five-Year Plan” period, the state made a clear national policy to promote the development of SMEs, relaxed market access, increased policy support, improved social services, and strengthened supervision and management. Local governments at all levels also adopted some concrete measures and support methods and did a lot of effective work. With the market mechanisms and support of the government, the number of small and medium-sized enterprises across the country has increased rapidly, their quality has continually improved, vitality has been markedly enhanced, and development has been taken to a new level.
SMEs are making more and more contributions to economic growth. From 2001 to 2005, the average growth rate of the national economy was 9.5 per cent. The average annual growth of the added value of large-scale small and medium-sized industrial enterprises was 28 per cent. At present, the revenue of SMEs is equivalent to 60 per cent of that of all other types of enterprises. The taxes that large-scale small and medium-sized industrial enterprises pay account for 50 per cent of the total taxes that all industrial enterprises pay. In Guangdong, Zhejiang, and other coastal areas, SMEs are maintaining the good momentum of development with rapid growth and full energy. In some central and western regions, SMEs are playing an increasingly important role in the county economies.
SMEs have become the main channel for expanding employment. Small and medium-sized enterprises mostly belong to labour-intensive industries with flexible forms of employment, playing a positive role in easing the employment pressure. Currently, more than 75 per cent of urban jobs are provided by SMEs; most laid-off workers of state-owned enterprises are re-employed by SMEs; most migrant workers are working at SMEs. Small and medium-sized enterprises are beginning to become an important channel for the employment of college graduates.
SMEs are a major force in technological innovation. At present, more than 60 per cent of China’s invention patents and more than 80 per cent of its new product development are completed by the SMEs. Whether in electronic information, biological pharmacy, new materials, or other new and high-tech fields or whether in consultation, creative design, modern logistics shipping, or other new emerging service industries, SMEs’ innovation is very active. Many small and medium-sized enterprises have developed rapidly to become large ones relying on technological innovation.
SMEs have promoted economic structural adjustment and optimization. Many SMEs have developed into infrastructure, electrical and mechanical manufacturing, new services, new and high-tech areas, and so on from the processing, construction, transportation, trade, and other fields of the early days, realizing upgrades in their industrial structures. Some SMEs have taken a step forward in increasing their capacity to turn out products that are new, distinctive, specialized, and sophisticated, actively cooperating with large enterprises and optimizing their organizational structures. SMEs in some areas have formed industrial clusters to make contributions to economic restructuring.
SMEs are playing an increasingly important role in reform and opening up. SME development is not only an important achievement of reform and opening up but also an important force behind reform and opening up. A large number of SMEs in all areas actively participate in competition, forming a vibrant market environment and promoting the market’s basic role in allocating resources. In recent years, SMEs have rapidly developed the import and export trade, and a number of powerful enterprises have gone out of the country.
EastBridge requires that a company be able to return its initial investment within one year, and the gain is substantial for all involved.
Recent Accomplishments
March 2007 ~ Received approval letter from U.S. Securities & Exchange Commission for stock registration.
January 2007 ~ Filed application with National Association of Security Dealers to public stock quotes on the OTC BB.
January 2007 ~ Announced agreement to take Chinese steel construction company public in the U.S. stock market.
January 2007 ~ Announced agreement to take Hong Kong producer of high-powered optical products public in the U.S. stock market.
January 2007 ~ Announced agreement to take Chinese manufacturer of gear axles and roller bearings public in the U.S. stock market.
Source: Qiushi website, Beijing, in Chinese 1 Feb 07
Article by Vice-Premier Zeng Peiyan: “Improve Quality, Make the Most of Advantages, and Promote Quicker Development of SMEs”
EastBridge Investment Group Corp.
2101 E. Broadway, #30, Tempe, Arizona
Tempe, Arizona
Phone: (480) 966-2020
Fax: (480) 966-0808
Email: info@ebigcorp.com
Investors Email: investors@ebigcorp.com
Website: http://www.ebigcorp.com
Source: Eastbridge Investment Group and BBC
About: EastBridge Investment Group focuses on small to medium-size high-growth companies in China and India offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in electronics, real estate, auto, metal, energy, environmental, bio science, food and retail distribution.
Forward Looking Statements: The information in this release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, fluctuations in foreign currency exchange, the impact of competitive services and pricing, or general economic risks and uncertainties.
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