"It will take time for the pilot reform in Wenzhou to show some effect, requiring further observation as it enters its second year."

Pan Gongsheng, vice-governor of the People's Bank of China

"Financial reform is tied inextricably to industry restructuring. The financial plaza will eventually work as a platform to help SMEs and individuals solve financial problems using multiple methods at lower risk. If the pilot financial reform in Wenzhou succeeds, it will have a positive effect on the Chinese economy."

Cen Li, general manager of State-owned Wenzhou Financial Investment Group, in charge of the Wenzhou financial reform plaza

"Raising work efficiency in all processes of shoe-making is the only way to stand out amid tougher competition."

Pan Jianzhong, general manager of Juyi (shoemaking) Group

"The financial reform has hardly had a positive effect on manufacturing-based companies, which are still struggling with financial problems, such as applying for high-interest loans and incurring more business operating expenses. Hopefully, there will be more government policies to encourage private SMEs in their ongoing industrial restructuring by producing more value-added products with higher quality and better designs at lower costs."

Zheng Chen'ai, president of Wenzhou Garments Association

"We need some new financing to take the company forward, especially with government support. Hopefully, the ongoing financial reform will open up new funding channels for us."

Shao Shaoqing, vice-chairman of Hailuo Group

"We aim for the zone to demonstrate the economic restructuring of Chinese private companies. With the financial reform, we hope the zone's annual revenue will reach 95 billion yuan ($15.1 billion) by the end of this year and 112.5 billion yuan by the end of 2015."

Zheng Deshi, deputy director of the technology industry development department of the Wenzhou High-tech Industrial Development Zone

"Without the government's help, we would have shut down a long time ago. The Wenzhou financial office has announced a number of favorable policies. Money can be exhausted in a very short period, but favorable government policies have a lasting effect."

Zhang Xiaodong, general manager of Eifesun Energy Technology Co Ltd

(China Daily 03/28/2013 page14)