China to leverage SMEs in enhancing industrial chains

BEIJING -- China will improve support for small- and medium-sized enterprises (SMEs) and help them play better roles in reinforcing the industrial chains, said the Ministry of Industry and Information Technology (MIIT).

In 2022, the country will incubate 3,000 "little giant" firms, which refer to promising small enterprises in their early stage of development, and focusing on high-end technologies, said the ministry.

SMEs that feature specialization, refinement, uniqueness, and innovation or have leading advantages will also be better cultivated as part of efforts to build emerging industrial chains, said the MIIT.

Policies will encourage large enterprises to open the market, technologies, and talents to SMEs, the ministry said, adding SMEs will enjoy more financial support.

SMEs are a significant force to maintain the security and stability of the industrial and supply chains, said Xu Xiaolan, vice-minister of the MIIT.