Rising Ventures: Beijing Shenwu – The Future of Business in China?
The Chinese government is apparently getting serious about supporting small and medium sized enterprises (SMEs) within its borders. This is perhaps part grudging acknowledgement of the country’s thriving, homegrown private sector and part proactive attempt to reap the benefits of entrepreneurs who are leading hi-tech product development and broad-based economic gains throughout China.
It is understandable why the government would want to provide assistance to a sector that comprises 99.6% of all of the country’s businesses and accounts for 58% of the gross domestic product – one recent example that comes to mind is the establishment of a national SME association in early December.As the country looks to maintain a competitive edge in the production of advanced technologies while promoting clean, efficient industrial growth, it is increasingly turning to a new generation of Chinese businesses with a focus on innovation and smart, sustainable operations. Beijing Shenwu Thermal Energy Technologies is in many ways a poster child of this recent trend.
The company manufactures efficient combustion technology to replace old equipment in China’s highly polluting industrial sector. Shenwu solutions reduce emissions while offering cost savings, earning the company accolades and grants from the Chinese government as well as the World Bank.
This enterprise is an example of the type of sustainable growth China should be encouraging; Shenwu was even the first company in the country to join the Chicago Climate Exchange and will eliminate 6 million tons of carbon emissions this year. International investors are showing a great deal of interest in the company as it seeks to achieve IPO in the next few years – read more about Shenwu here.