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The 2003 China International Small and Medium-sized Enterprises' (SMEs) Commodities Fair opened in Changzhou in East China's Jiangsu Province on Saturday.

"A well-organized fair would provide great opportunities for the development of small and medium-sized enterprises," said Zhang Wei, vice-chairman of the China Council for the Promotion of International Trade, at the fair's opening ceremony.

"Fairs like this are beneficial for these enterprises, and business people are able to find many opportunities for co-operation and new markets."

Ou Xinqian, vice-minister of the National Development and Reform Commission, said some SMEs would be able to show the results of their latest technological innovations at the fair.

Zhang also pointed out that the biggest problem in the development of SMEs in China is the lack of finance.

"China's SMEs face much fiercer competition, especially now that the nation has become a member of the World Trade Organization.

"Therefore, these enterprises should spare no efforts to attract investment in various ways," he stressed. "For example, the 2003 China International SME Commodities Fair is an excellent place for enterprises to find investors."

Zhang maintained that international co-operation is a useful way to obtain enough capital for China's SMEs.

"The government at various levels should create favourable conditions for the enterprises to communicate with and learn from major international companies, pushing forward their entrance into the international market," he said.

Over 400 SMEs both in the country and from abroad have set their exhibition stands at the five-day fair, including those from the United States, Germany, Britain, Italy, Japan, South Korea and Australia.

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