China's major SMEs register positive annual growth in 2025

China's small and medium-sized enterprises (SMEs) continued to post steady and positive growth in 2025, with value-added output of industrial SMEs above the designated size rising 6.9 percent year on year, according to the Ministry of Industry and Information Technology.

The update was released at a State Council Information Office press conference on industrial and information technology development held on Wednesday, where Zhang Yunming, the ministry's vice minister, outlined the high-quality development progresses of SMEs in 2025.

"In 2025, the value-added output of industrial SMEs above the designated size rose by 6.9 percent year on year, while the SME export index reached 52.4 percent in December, continued the steady expansion for 21 consecutive months," he said.

Over the past year, China has cumulatively nurtured 17,600 specialized and innovative “little giant” enterprises, more than 140,000 specialized and innovative SMEs, and more than 600,000 technology- and innovation-oriented SMEs. These “little giant” enterprises have an average research and development investment intensity of 7 percent, with a total of 460,000 invention patents, averaging 26.6 per enterprise, highlighting strong innovation capacity.

"Authorities will formulate a dedicated plan to promote SME development during the 15th Five-Year Plan period. We will fully implement regulations aimed at ensuring timely payments to SMEs, intensify efforts to clear overdue payments while resolutely curbing new arrears, and better protect the legitimate rights and interests of SMEs. Revisions to SME classification standards will also be accelerated to improve the precision and effectiveness of policy support," Zhang said.

Further measures will focus on building mechanisms to support the growth of specialized and innovative SMEs to produce novel and unique products, establishing the first group of national SME public service demonstration platforms and bases, and rolling out a three-year action plan for tiered cultivation of high-quality enterprises. China will also explore the creation of specialized and innovative empowerment centers for SMEs, improve the tiered development system for SME-focused industrial clusters, and promote coordinated and integrated development among large, medium and small enterprises, he added.

China's major SMEs register positive annual growth in 2025

The U.S. Department of Defense plans to spend more than 10 billion dollars to purchase air defense and interceptor missiles, and several billion dollars more to purchase various other types of missiles, according to a Bloomberg report on Friday.

According to the report, documents drafted by the U.S. Department of Defense and submitted to the defense committees of both the Senate and the House of Representatives indicate that these funds will be used to procure 5.75 billion dollars’ worth of THAAD interceptor missiles and 5.57 billion dollars’ worth of Patriot missile segment enhancements. The procurement list also includes 1.9 billion dollars’ worth of Standard Missile-6 (SM-6) and 1.3 billion dollars' worth of Tomahawk cruise missiles, as well as 692 million dollars for the procurement of precision-strike missiles, which was used for the first time in the war with Iran.

The report said that as U.S. forces struck Iran and intercepted its drone and missile attacks against U.S. bases in the Middle East, concerns are rising about the weapons stockpiles. U.S. lawmakers, defense officials, and analysts have stated that the current US weapons stockpiles are at dangerously low levels.

CBS News, citing U.S. military and intelligence officials, reported earlier this month that the rapid depletion of U.S. air defense interceptors and precision-guided weapons during the U.S.-Iran conflict had raised concerns within the U.S. government.

Pentagon plans to spend over 10 bln dollars on missile purchase