Bao Yujun, the director of the China Private Sector Economic Institute, warned the Oriental Morning Post thatthe well-being of China's economy was jeopardized due to the failure of the country's banks to provide financing to small and medium-sized enterprises (SMEs). Bao said more than 5.5 million private firms in China created 65% of the country’s gross domestic product (GDP) and employed 75% of the total labor force, but only 10% of ...