Small and medium-sized enterprises in Zhejiang Province face serious headwinds 　　
　　In Wenzhou of Zhejiang Province, theboomtown of China’s private economy,three renowned manufacturers―JiangnanLeather, Portman Coffee and electronicsmaker Sanqi Group―have recently declaredbankruptcy, sparking concerns that a waveof factory closures may be sweeping throughthe region. Newspapers have been filledwith reports that 20 percent of Wenzhou’snearly 300,000 small and medium-sizedenterprises (SMEs) have halted production.
　　 “The situation is even worse than in 2008when the financial crisis rippled throughChina, causing massive plant closures andpainful job losses,” said Zhou Dewen,Deputy Director of the China Association ofSmall and Medium Enterprises.
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