HKMA's Pang commends SMEs

Small- and medium-sized enterprises play a vital role in the economic growth of developing countries, Peter Pang, a deputy chief executive of the Hong Kong Monetary Authority, said.

"Small- and medium-sized enterprises' entrepreneurship, flexibility and responsiveness to change are an essential driving force of economic development," Pang said. "The employment opportunities they create improve the livelihood of thousands of millions of poor people. In many developing countries, and in fact in

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