Financial reform efforts in Wenzhou helping businesses

A pilot financial reform aimed at helping small and medium-sized enterprises in Wenzhou, Zhejiang province, get funding has been widely welcomed since its launch in March, and organizations that have benefited from it report they have been enjoying considerably improved fortunes as a result.

The plan has been centered on 12 major areas in Wenzhou, one of the country's key manufacturing regions.

According to companies contacted by China Daily, the funds being made available have been used in many cases for them to simply survive, as the local economy slowed as a result of the downturn in business, especially from customers in countries severely affected by the eurozone's ongoing financial crisis.