China will continue to take multiple measures to promote the development of small and medium-sized specialized and sophisticated enterprises (SMEs) that produce new and unique products, said Shan Zhongde, vice minister of the Ministry of Industry and Information Technology.
In an exclusive interview with the China Central Television (CCTV), Shan noted that in the first half of this year, they had strived to solve urgent problems facing SMEs and empowered them.
"We have strived to solve urgent problems facing the enterprises and guided them to use special and sophisticated technologies. First, we provided them with accurate service. We facilitated the establishment of more than 1,700 public service institutions for SMEs spanning national, provincial, municipal, and county levels, forming a comprehensive network for SMEs across the country. Second, we implemented targeted measures to assist SMEs proactively, undertaking practical initiatives to solve their issues. Third, we implemented targeted measures to empower SMEs. We organized over 100 financing and matchmaking events involving more than 10,000 large, medium, and small enterprises, effectively helping SMEs to get technological achievements," said Shan.
He said that their work has yielded fruitful results. In the first five months of this year, the added value of small and medium-sized industrial enterprises above a designated size increased by 7.5 percent year on year, faster than that of large enterprises.
"We have made out efforts to facilitate the digital transformation of SMEs. We have worked with the Ministry of Finance to establish pilot cities for the digital transformation of SMEs. Our plan aims to facilitate the digital transformation of 40,000 SMEs across 100 cities within three years. In addition, we have actively promoted the integrated development of large, medium, and small enterprises, continued to deepen reforms and supported specialized and sophisticated enterprises that produce new and unique products to participate in the construction of key industrial chains and high-tech parks," the vice minister said.
"We will strengthen support for specialized and sophisticated enterprises that produce new and unique products. Firstly, we will enhance innovation. We will encourage SMEs to focus on niche areas, and implement a new round of financial support policies to guide specialized and sophisticated SMEs that produce new and unique products to continue to increase their investment in innovation in collaboration with the Ministry of Finance. Secondly, we will strengthen talent cultivation. Thirdly, we will improve the categorized program for cultivating SMEs. We have established an evaluation system for the high-quality development of the specialized and sophisticated SMEs that produce new and unique products, and improve the dynamic management mechanism of ‘entry and exit’. Fourthly, we will enhance openness and cooperation. We will launch a special campaign to help SMEs expand internationally and continue to develop Chinese and foreign SMEs cooperation zones and industrial clusters of characteristic SMEs," Shan said.
China takes multiple measures to further promote development of SMEs: official
