MIIT chief engineer Wang Weiming said China’s small and micro enterprises still face weak orders, high costs and staffing shortages, requiring stepped-up support. The ministry will build a national SME service network and a fast-response, high-efficiency service system, deepen collaboration across large, medium and small firms, and pilot industry-level specialized, refined, distinctive and innovative empowerment centers. MIIT will accelerate establishment of Phase II of the National SME Developm

MIIT chief engineer Wang Weiming said China’s small and micro enterprises still face weak orders, high costs and staffing shortages, requiring stepped-up support. The ministry will build a national SME service network and a fast-response, high-efficiency service system, deepen collaboration across large, medium and small firms, and pilot industry-level specialized, refined, distinctive and innovative empowerment centers. MIIT will accelerate establishment of Phase II of the National SME Development Fund to attract more patient capital into seed- and early-stage firms so more potential companies receive support to scale.