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The following is issued on behalf of the Small and Medium Enterprises Committee:

At its first meeting today (January 10), the Small and Medium Enterprises Committee (SMEC) reaffirmed the importance of small and medium enterprises (SMEs) as a key driver of Hong Kong's economic growth. The Committee commenced its work to develop new measures to help the SMEs, with a view to coming up with practical recommendations to the Chief Executive within six months.

To help the Committee to identify challenges facing the SMEs, five working groups were established at the meeting. They will work on five priority areas, namely SME financing, human resources development, information technology applications, improvement of business environment and enhancement of market access.

SMEC Chairman, Mr. Chan Wing-kee, said: "Priority of the Committee will be given to exploring possible new measures under the themes of "helping to start a new business", "helping to build a new business", and "helping to expand a new business", with a view to helping SMEs to solve different problems at different stages of their developments."

He said: "In formulating its recommendations, the Committee will consult the trade widely. The Committee will hold special sessions to meet with representatives of various SMEs organisations for views and suggestions."

The Financial Secretary, Mr. Donald Tsang also took the opportunity to attend the meeting, as part of his exchanges of views with different sectors of the community on the coming year's Budget.

The new SMEC comprises 25 members from a wide spectrum of sectors, including small and medium enterprises operators, businessmen, bankers, academics, representatives from organisations which provide support services to SMEs, Director-General of Trade and Industry and Deputy Secretary for Commerce and Industry.

End/Wednesday, January 10, 2001

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