The golden age for the development of private enterprises in China


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China in transition Today's small and medium-sized enterprises are very hard to support in the current economic transformation of China.
Because there are many leading enterprises in many industries, it is very difficult for small and medium-sized enterprises to survive in these enterprises. No matter from the management system or the capital operation, it is much more difficult than the leading enterprises.
Do they really have a chance at this time? Actually, it is not. The government has issued many policies to help them. What should we do? Please follow me.
Miao Wei, minister of industry and information technology, said more steps will be undertaken to promote the national equity fund which supports the country's SMEs, which account for 99 percent of the private companies.

Equity investment

"The ministry, along with others, including the Ministry of Finance, will beef up equity investments to early or seed-stage SMEs to drive their development," he said.
Four such funds amounting to 19.5 billion yuan ($2.8 billion) have so far been put into operation.
A total of 5.72 billion yuan has been invested in companies across a variety of industries including high-end manufacturing, new energy and new materials, as well as biological medicine, Miao said.
The remarks came after President Xi Jinping, also general secretary of the Communist Party of China Central Committee Called at a recent symposium to unswervingly encourage, support and guide the development of the nonpublic sector, and encourage private enterprises to develop further.
Noting that innovation and competitiveness are two key enablers of SMEs, Miao encouraged SMEs to focus on one specific segment and give it a full play.
"We aim to nurture 600 SMEs who have strong innovation capacities, who have a high market share, and who specialize in a certain niche," he said.
Miao also pointed out that the ministry will further lower the threshold and welcome private capital in the telecommunications and defense sectors.
The ministry granted earlier this year licenses to 15 companies to run virtual telecom network services Which allow private companies to offer telecom services by piggybacking on the infrastructure of China's big three State-owned telecom carriers.
A total of 42 companies, including Alibaba Group, Tencent Holdings Ltd and Xiaomi Corp, are running trial virtual network services. As of March, 18 companies have seen their user base exceed one million. Wang Xiaolan, president of high-tech manufacturing company Time Group Inc, said that she welcomed the top authorities' efforts to support private businesses.
Entrepreneurs from both China and abroad are on their way to transformation, during which private companies may indeed face challenges, she said.
"The latest efforts show the government's efforts to address the bottlenecks facing private businesses," she said.
Now China is facing tremendous changes. Recently, Xi Jinping publicly acknowledged the importance of private enterprises to China's development in many public places.

Establishment and development

Xi Jinping asked Chinese state-owned enterprises and government departments to support the establishment and development of private enterprises in all directions.
So this is the golden age for the development of private enterprises in China. If you want to develop your business in China, please do not miss this opportunity!


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