A survey by the China Association of Small and Medium Enterprises reveals that small and medium-sized enterprises (SME) are seizing opportunities brought by new quality productive forces to spur their shift towards high-end and intelligent development.
In recent years, SMEs have kept increasing research and development investment and sped up their transformation and upgrading efforts.
In Hangzhou, capital city of east China's Zhejiang Province, a company completed its automation and digital upgrading last year, achieving a solid start in the first quarter of this year.
"After digital transformation, our company's production efficiency has improved by over 50 percent with costs reduced by more than 15 percent. Currently, our orders are scheduled until the end of April, and all equipment is operating at full capacity," said Bao Taotao, deputy general manager of Zhejiang Hanxin Optoelectronic Co., Ltd.
The survey also shows that with improved corporate profitability, the input index of seven out of the eight surveyed industries rose in February, reflecting stronger intentions to expand production.
"During our recent field research across various regions, we could see clearly that industries with strong policy support and rapid technology adoption have achieved better results in transformation and upgrading. The development of specialized and sophisticated technologies to produce novel and unique products, along with digital transformation, has driven SMEs towards high-end and intelligent upgrades. The growth of SME industrial clusters has also provided robust support for this transformation," said Ma Bin, executive vice president of the China Association of Small and Medium Enterprises.
China now has over 140,000 innovative SMEs that use special and sophisticated technologies to produce novel and unique products.
These SMEs, known for their strong innovation capabilities and dynamic development, have become a vital force in cultivating new quality productive forces.
The Ministry of Industry and Information Technology has announced plans to promote the development of digital products, services, and solutions tailored to SMEs, facilitating their digital and intelligent transformation.
Meanwhile, the Ministry of Finance stated that this year, it will step up efforts to support the accelerated industrial transformation and upgrading, and further implement incentive policies for specialized and innovative SMEs.
Chinese SMEs accelerate high-end, smart transformation: survey
