Published on: 2026-09-03
Source: People’s Republic of China — Translation
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Beijing, September 3 /Xinhua/ — China has published the Plan to Promote High-Quality Development of Small and Medium-sized Enterprises (SMEs), developed for the implementation period of the country’s 15th Five-Year Plan (2026-2030), which sets target indicators for growth in economic activity, innovation implementation, and improvement of the environment for their development.
According to a plan developed jointly by 10 government agencies, including the Ministry of Industry and Information Technology of China, by 2030, SMEs in China will achieve growth both qualitatively and quantitatively, and the cumulative growth of the per capita operating income of leading SMEs over the five-year period is expected to be about 15 percent.
The plan notes that by 2030, the innovative potential of SMEs will significantly expand. The average annual growth of internal R&D expenditures in leading industrial SMEs will exceed 8%, and the number of “small giants” is expected to reach 22,000.
“Small Giants” are the new elite of SMEs, engaged in manufacturing, specializing in niche market segments, and possessing advanced technologies.
The plan provides for the further improvement of the SME service system and an increase in the number of cooperation zones between Chinese and foreign SMEs to 50 by 2030.
It is expected that by that time the environment for SME development will become even better, primarily with the establishment of a mechanism for preventing and resolving payment arrears in favor of SMEs, and the access of this category of enterprises to diversified financing channels will further expand. -0-
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