Ministry of Industry and Information Technology: Strengthening Support for Enterprises to Promote High-Quality Development of Small and Medium-Sized Enterprises
Release time:
2024-10-25
Since the beginning of this year, the Ministry of Industry and Information Technology (MIIT) has introduced a series of measures to support enterprises. These efforts aim to address the challenges faced by small and medium-sized enterprises (SMEs), such as difficulties in financing and payment collection, reducing costs, expanding demand, and strengthening service guarantees, thereby further enhancing support for SMEs.
In terms of service guarantees, the MIIT, in collaboration with 17 departments, has launched the “Jointly Benefiting Enterprises” service initiative for SMEs. This initiative aims to overcome the “last mile” of policy implementation, helping enterprises reduce costs and improve efficiency. At the same time, efforts have been made to improve the national, provincial, municipal, and county-level public service systems for SMEs, resulting in the establishment of over 1,780 public service institutions. Additionally, the China SME Service Network has been launched, integrating resources from government and market sectors to provide one-stop services for SMEs.
To enhance the resilience and security of industrial and supply chains, the MIIT, together with the State-owned Assets Supervision and Administration Commission of the State Council and other departments, has implemented collaborative innovation and joint problem-solving initiatives between large and small enterprises. These efforts have enabled specialized SMEs to participate in the supply chains of large enterprises, becoming expert suppliers, and have facilitated collaborations exceeding 500 billion yuan.
In terms of innovation support, the MIIT and the Ministry of Finance have launched a new round of policies to support “specialized, refined, distinctive, and innovative” enterprises. Through central fiscal funding, over 1,000 key “little giant” enterprises are being supported to develop new momentum, tackle cutting-edge technologies, develop new products, and strengthen their role in industrial chains.
Additionally, China has identified a second batch of 36 pilot cities for the digital transformation of SMEs. The central government has allocated 2.7 billion yuan, while local governments have invested over 12 billion yuan.
So far, China has cultivated a total of 141,000 “specialized, refined, distinctive, and innovative” SMEs, including 14,600 “little giant” enterprises.
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