Shenzhen takes steps to enhance SME development environment

Shenzhen is making significant strides to optimize the development environment for small and medium-sized enterprises (SMEs), establishing a comprehensive service system for SMEs that integrates public services, market-oriented services, and social welfare services. 

Addressing the pressing challenge of securing industrial space for SMEs, Shenzhen plans to implement a multi-tiered industrial space guarantee system, which is aimed at optimizing resource supply and allocation while improving the classification management mechanism. Additionally, to facilitate financing for SMEs, a credit information mechanism will be established based on the national credit information sharing platform. This mechanism will consolidate critical credit information related to business registration, tax payments, utility bills, social insurance contributions, and housing fund payments, thereby aiding financial institutions in accurately profiling their clients.

To nurture enterprises with industry-leading positions and core competitiveness, Shenzhen will develop a comprehensive enterprise nurturing system that covers incubation, growth support and scaling up. This initiative aims to assist more SMEs in joining the innovation and supply chains of leading enterprises, encouraging larger companies to engage in collaborative technological research and development driven by industrial needs. The city will regularly organize activities for matching supply and demand, fostering a collaborative ecosystem that integrates large, medium, and small enterprises.

In a move to promote new productive forces, Shenzhen is focusing on channeling technological innovation resources toward technology-oriented SMEs. An innovation points system will be introduced to assess the technological innovation capabilities of SMEs, applying evaluation scores across different scenarios. Measures will be taken to enhance the sharing of technological facilities and equipment with SMEs, alongside the coordinated opening of public data resources and application scenarios to support the application of new technologies, products, and models.

Currently, Shenzhen boasts over 2.6 million SMEs, which account for more than 99% of the total number of enterprises within the city and generate approximately 50% of its GDP. Renowned companies such as Huawei, Tencent, and BYD have grown to be industry leaders in Shenzhen, while specialized and new SMEs have carved out competitive positions in niche markets, highlighting their role as representatives of new productive forces.