China's small and medium-sized enterprises (SMEs) experienced a more favorable business environment, marked by improved market access and shrinking regional disparities, a new report from the China Centre for Promotion of SME Developments reveals.
Evaluating 50 key cities, the report highlights rising SME revenue, stronger confidence, and robust investment plans. About 60% of surveyed SMEs saw stable or increased earnings, while over 60% of specialized firms plan R&D activities in the coming year. More than 40% are preparing for new investments.
R&D spending intensity climbed to 2.76%, and technology contract value surged to ¥4.01 trillion ($556 billion), reflecting a growing innovation trend.
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The study also noted progress in SME support services, with over 80% of cities running integrated digital platforms.
China now boasts over 1,800 SME service institutions, linking 32 provinces and 171 cities, collectively supporting over 1 million businesses.
Wang Peng of the Beijing Academy of Social Sciences said these improvements show how policy support and market forces are driving SME innovation and vitality.
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