Driven by a series of policies of the central and local governments, China reported generally stable operation in its specialized, sophisticated and innovative enterprises or the so-called little giant enterprises with the key industries showing new highlights in October.
According to the latest statistics of CCID Research Institute of the Ministry of Industry and Information Technology, China recorded in October an innovation index of 110.9, an increase of 12% over the same period last year.
Major cities such as Beijing, Shanghai and Guangdong have demonstrated outstanding innovation momentum with their innovation indexes increasing by more than 20% year on year. The new generation of information technology has maintained strong innovation vitality and achieved remarkable results in key technologies, advanced processes and other innovations.
Since the beginning of this year, various regions have increased support to promote SMEs to develop professionally and specially. Local governments in Jiangxi have issued a list of 25 practical tasks to enhance innovation level, promote digital empowerment, and strengthen talent support, so as to promote SMEs to enhance innovation momentum.
Beijing has supported little giant enterprises to carry out mergers and acquisitions around the layout of the industrial chain, attract upstream and downstream enterprises, and build a number of specialized, special and new characteristic parks in a bid to accelerate the development of specialized, sophisticated and innovative enterprise clusters.
Driven by local policies, the specialized, sophisticated and innovative enterprises reported 137. 8 in their anti-risk index, including enterprise orders, investment and financing, an increase of 14.8% year on year and 3.5% month on month with the new material industry and new energy automobile industry posting rapid growth.
"It shows that SMEs in China are constantly improving the innovation ability and professional development level. On the other hand, it also reflects that the central and local governments at all levels have made remarkable achievements in promoting the development of specialized, sophisticated and innovative enterprises," said Yin Xiaomeng, Director, Specialized, Sophisticated and Innovative Service Department, China SME Development Promotion Center.
