China Announces Three-Year RMB10 Billion SME Development Initiative
16 November 2018
China’s central government has announced plans to allocate RMB10 billion from its special fund for the development of SMEs over the next three years. The move is intended to provide support and guidance to 200 national and provincial-level development zones, with particular regard to establishing a variety of different innovation/entrepreneurship platforms.
Among the platforms designated for priority development are the following:
Specialist Capital Aggregators
Such platforms will be led by specialists in the venture capital and industrial venture field
Integrated Development of Multi-Sized Enterprises
Working across small, medium and large businesses, these platforms will be headed by acknowledged industry leaders
Scientific and Technological Resources
These specialist platforms will take their lead from universities and research institutes
These platforms will make use of the most talented and able professionals available
A three-year programme of funding – consisting of both incentives and subsidies – will be available, with the amount allocated to each zone dependent on the overall number of zones participating in the initiative. No zone will receive funding in excess of RMB50 million.
The above initiative was outlined in the Implementation Plan for Supporting the Creation of Distinctive Platforms to Promote the Upgraded Innovation and Entrepreneurship of Small and Medium-Sized Enterprises (SMEs), as jointly issued by the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the Ministry of Finance.
For further details (in Chinese), please access the following link:
- Mainland China
- Mainland China