Foreign Media: China released its five-year plan on September 3, supporting emerging enterprises such as "little giants" to promote employment and innovation.
The plan, jointly issued by 10 central government departments, requires local governments to support small and medium-sized enterprises (SMEs) in emerging sectors, enabling them to participate in major national science and technology projects and guiding government funds to invest in early-stage companies. The plan aims to increase average income per SME employee by approximately 15% by 2030, grow the number of "little giant" enterprises to 220,000, expand the number of nationally recognized SME clusters to 600, and ensure annual growth in R&D expenditure by industrial SMEs exceeds 8%.
The policy will also focus on supporting strategic emerging industries such as new energy, new materials, robotics, quantum technology, brain-machine interfaces, and embodied intelligence. It will broaden support from government venture capital, "patient capital," bank credit and bonds, equity financing, launch Phase II of the National SME Development Fund, and provide long-term financial support for SME innovation and industrial upgrading.
Original article: toutiao.com/article/1875328061229056/
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