Building a template for global growth

Micro, small and medium-sized enterprises have become a major force in driving socioeconomic development, and promoting their sustainable development is a common goal of the international community, officials told a news conference ahead of the 18th China International Small and Medium Enterprises Fair and the second SME International Cooperation Summit, which will be held from June 26 to 30 in Guangzhou, Guangdong province.

"SMEs are the main channels for expanding employment and important sources of technological innovation. They are also an indispensable force for promoting economic and social development," an official of the Ministry of Industry and Information Technology said.

"Governments around the world attach great importance to the development of SMEs and are committed to solving problems such as financing, business environment, intellectual property and technological innovation for such businesses. Promoting the healthy and sustainable development of SMEs has become a widely recognized consensus of the international community."

The official called for the CISMEF to fully play its role as an international platform that assists SMEs in exploring markets and promoting international exchanges and cooperation to inject new vitality and energy into the development of such enterprises while promoting a new level of cooperation for Chinese SMEs.

Ministry participation in the fair will include the nationwide launch of special activities focused on digitalization, industrialization of scientific results and brand quality standards, along with a slew of project signing events and business fairs.

SMEs have experienced accelerated development in China in recent years. As of the end of 2022, their number exceeded 52 million, which represents a 51 percent increase compared to the end of 2018. Data from the ministry also show that in 2022, an average of 23,800 new enterprises were established per day — 1.3 times more than that in 2018.

"The rapid development and growth of SMEs has made them the largest and most dynamic group of businesses in China, and they are the driving force of the country's economic and social development," the official said.

After the pandemic over the past three years, China's SMEs have been undergoing a recovery. The ministry cooperated with relevant departments to roll out more than 40 preferential policies at national level in 2022, which in turn prompted local governments to issue more than 270 supporting policy documents.

Since the start of this year, overall production and operation of SMEs has maintained a recovery trend, which is expected to further improve. According to the ministry, 35 percent of SMEs believed their production and operation status was "relatively good" in April, an increase of 3.2 percentage points month-on-month.

From January to April, 55.3 percent of the newly listed A-share companies are specialized, refined, new, and small enterprises, and among the newly listed companies on the Science and Technology Innovation Board, 67 percent are specialized, refined, new and small enterprises.

The ministry recently joined hands with other related agencies and departments to launch relevant action plans, including supporting the industrialization of scientific results of SMEs, promoting the digitalization of SMEs and facilitating project matchmaking and cooperation in technological innovation.

In addition, the State Administration for Market Regulation has taken measures to improve the business environment in China, which includes creating a unified national market that is efficient, fair and open in support of SMEs. Initiatives have also been launched to optimize market access, improve policy measurements for micro-businesses and SMEs and maintain a fair market order.

As of the end of May, more than 46 million companies have cumulatively used electronic business licenses more than 250 million times. A total of 3,316 cases of unfair competition have been investigated and handled, resulting in fines totaling 154 million yuan ($21.66 million), according to the registration department of the SAMR.

"The administration will actively play its role and continue to create a market-oriented, rule-of-law and internationalized business environment," an official said.