China's Ministry of Industry and Information Technology, together with multiple departments, will soon publish the '15th Five-Year Plan to Promote Small and Medium-Sized Enterprise Development.' MIIT said at a January state press briefing it will continue to optimize the business environment, accelerate mechanisms to scale specialized, refined, distinctive and innovative SMEs, and improve a tiered cultivation system for SME industry clusters. Experts told China Securities Journal SMEs are a key

China's Ministry of Industry and Information Technology, together with multiple departments, will soon publish the '15th Five-Year Plan to Promote Small and Medium-Sized Enterprise Development.' MIIT said at a January state press briefing it will continue to optimize the business environment, accelerate mechanisms to scale specialized, refined, distinctive and innovative SMEs, and improve a tiered cultivation system for SME industry clusters. Experts told China Securities Journal SMEs are a key source of economic dynamism, underpin employment, stabilize industrial chains and support new productive forces. The forthcoming plan is expected to focus on promoting specialized, refined, distinctive and innovative SMEs, optimizing the SME operating environment, establishing a tiered system to cultivate high-quality SMEs, and introducing policies to help such firms grow and achieve higher-quality development.