Hey tech enthusiasts! 🌟 China is stepping up its game by giving a major boost to innovative small and medium-sized enterprises (SMEs). This move is all about accelerating technological advancements and creating cool new products that could change the game!
SMEs are like the hidden gems of innovation in China. 💎 The focus now is on a select group that uses specialized and sophisticated technologies to bring unique products to life. Imagine niche markets getting some serious attention!
The Ministry of Industry and Information Technology (MIIT) announced plans to help these SMEs move to the cloud, adopt digital tools, and embrace intelligent technologies. 🧠💻 The goal? To build vibrant clusters of SMEs that are distinct and super innovative.
But that's not all! A special campaign is on the way to power up SMEs through digital transformation. By 2027, the aim is to have full digitalization of the \"little giant\" enterprises—those elite SMEs rocking the manufacturing world with their niche specializations and cutting-edge tech.
This support for innovative SMEs lines up with a key policy that highlights the importance of strengthening the role of enterprises in innovation. By the end of June, China had over 140,000 of these awesome SMEs, including 12,000 \"little giant\" enterprises. That's a lot of innovation power! 💥
To encourage these SMEs to amp up their research and development (R&D), there will be increased tax deductions for R&D expenses. Plus, universities and research institutes are being encouraged to let SMEs use their scientific and technological advances on a \"use first, pay later\" basis. How cool is that? 🎓➡️🏭
On the support side, China has set up more than 1,780 public service institutions for SMEs at various levels. The coverage rate at the municipal level and above has hit a whopping 84%! This helps create a high-quality, efficient service system to back these enterprises.
Looking ahead, there's a plan to strengthen support capabilities for SMEs by 2025 and establish a sophisticated service system by 2035. This means top-tier institutions, strong platforms, rich resources, and excellent services all geared towards high satisfaction rates. 🚀
These public service institutions offer valuable help to SMEs, including intellectual property protection, investment and financing, technical support, and talent acquisition. It's all about creating an environment where innovation can thrive! 🌱
Stay tuned, because the future of tech innovation in China is looking brighter than ever! ✨
Reference(s):
China ramps up support for cutting-edge SMEs in tech advancement drive
cgtn.com
