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

A dazzling lineup of virtual and augmented reality (VR/AR) technologies was on display at an immersive tech fair that just concluded on Tuesday in Guangzhou City, south China, captivating visitors with true-to-life and thrilling game experiences.

Held inside the China Import and Export Fair Complex, the three-day World VR/AR/XR/MR Industry and Smart Glasses Exhibition drew exhibitors from around the world to showcase their hottest immersive products, and tech enthusiasts couldn't wait to test the gadgets and gear firsthand.

"I just experienced the VR skydiving. The sense of weightlessness is very strong, and my experience is fantastic. It feels like real skydiving, but you can't stay for too long, as it's so real that you might get a bit dizzy," one visitor said.

A local company presented several products including a dome-screen theater that delivers glasses-free 3D visuals ideal for tourist attractions.

"The highlight is that we have turned the track-based theater into a dome theater. It offers a 3D audio-visual experience with 8K high-definition images. Our exclusive footage is incredibly sharp, and we've added immersive motion effects along with special effects like wind, rain, thunder, snowflakes, and bubbles," said Liu Jiale, sales manager of the exhibiting company.

The company landed an overseas order on the very first day of the expo, and saw a steady stream of curious visitors stopping by to try out the products.

Another overseas company showcased a VR large-space arena that allows multiple visitors to experience it at once. The game has already attracted players from 35 countries and regions.

"We come here every year to introduce new games. We have many clients, both Chinese and international, from countries like Kazakhstan, Spain, France, and many others. We offer seven VR games with new maps, and our games currently support eight foreign languages," said Denis, the company manager.

China is now home to over 35,000 VR firms, and the whole VR industry is forecast to exceed 350 billion yuan (about 50 billion U.S. dollars) by 2026.

Immersive VR games wow crowds at Guangzhou tech expo