Economic Daily: Continuously stimulating the vitality of small and medium-sized enterprises

To stimulate the innovation vitality of small and medium-sized enterprises, we need to promote their deep participation in the industrial and supply chains, and enhance their supporting capabilities. We should carry out the work of "listing" for large enterprises and "unveiling" for small and medium-sized enterprises on a regular basis, smooth the supply and demand docking channels for large, medium and small enterprises, truly realize that innovation needs are proposed by the market, innovation subjects are selected by the market, and innovation achievements are verified by the market, and accelerate the tackling of industrial and technological problems.

The latest data from the Ministry of Industry and Information Technology shows that in the first eight months of this year, the added value of small and medium-sized industrial enterprises above designated size increased by 7.6% year-on-year, with a growth rate 3.3 percentage points higher than that of large enterprises. The overall operation is stable, and the trend of continuous innovation vitality is becoming increasingly evident.

From DeepSeek's widespread attention in the big model industry to Yushu Robotics' outstanding performance in various competitions, small and medium-sized enterprises have always been at the forefront of innovation. In 2024, the proportion of independent research and development generated in effective invention patents for small and medium-sized enterprises in China will be 75.3%, an increase of 3.9 percentage points from the previous year; The proportion of R&D funding exceeding 1 million yuan reached 16.8%, an increase of 0.6 percentage points from the previous year; The industrialization rates of invention patents for small and micro enterprises were 57.8% and 36.7%, respectively, reaching a new high since the 14th Five Year Plan. Small and medium-sized enterprises, with their flexible and adaptable characteristics, win the initiative in competition through innovation in the ever-changing market environment.

As the "vanguard" of the small and medium-sized enterprise team, specialized and innovative small and medium-sized enterprises have long been deeply engaged in segmented fields, diligently practicing their internal strengths, and forming a number of outstanding technological achievements. There are 14600 specialized, refined, and new "little giant" enterprises nationwide, with 327400 invention patents, accounting for 11% of the total number of enterprise invention patents. In the first eight months of this year, the R&D expenses of large-scale industrial specialized and new "little giants" accounted for 5.4% of their operating income.

To stimulate the innovation vitality of small and medium-sized enterprises, we need to take the path of specialized, refined, unique and innovative development. On the one hand, creating an inclusive innovation environment. Primitive innovation, even disruptive innovation, requires not only firm determination to sit on the cold bench, but also sustained investment of patient capital. It is necessary to further standardize the development mode of government investment funds, improve the credit enhancement financing and cultivation growth system, give full play to the role of policy guiding funds such as special treasury bond and special bonds, and focus on supporting start-up technology enterprises in the "choke" technology field. Promote the establishment of the second phase of the National Small and Medium sized Enterprise Development Fund, driving more social capital to invest in early, small, long-term, and hard technology.

On the other hand, increase support for the digital transformation of small and medium-sized enterprises. Currently, the new generation of information technology represented by artificial intelligence and large-scale models is accelerating its evolution, profoundly changing the innovation paradigm and production methods of enterprises. Government departments should select a group of exemplary digital transformation solutions that have strong demonstration effects, are replicable and easy to promote, to provide direction for enterprise transformation and solve the problem of "not wanting to transform"; Meet the funding needs of small and medium-sized enterprises for transformation through financial means such as fiscal subsidies, tax reductions, and special funds. In addition, it is necessary to vigorously cultivate a group of high-level digital transformation service providers to provide small and medium-sized enterprises with miniaturized, fast, lightweight, and precise products and services, reduce transformation costs, and solve the problem of "not being able to transform".

To stimulate the innovation vitality of small and medium-sized enterprises, we need to promote their deep participation in the industrial and supply chains, and enhance their supporting capabilities. We should carry out the work of "listing" for large enterprises and "unveiling" for small and medium-sized enterprises on a regular basis, smooth the supply and demand docking channels for large, medium and small enterprises, truly realize that innovation needs are proposed by the market, innovation subjects are selected by the market, and innovation achievements are verified by the market, and accelerate the tackling of industrial and technological problems. In this process, various regions need to play the role of "shop assistants", organize small and medium-sized enterprise service institutions, platform enterprises, research institutes, financial institutions, etc., strengthen service support, and create a fair and just environment for the integration and innovation of large, medium, and small enterprises.

Small and medium-sized enterprises are an important force in promoting innovation, employment, and improving people's livelihoods. If small and medium-sized enterprises are good, the Chinese economy will be good; If small and medium-sized enterprises survive, the resilience of the Chinese economy will be strong. All regions and departments should closely pay attention to the urgent and difficult problems encountered by small and medium-sized enterprises in their development. From the perspectives of policies and regulations, cultivation of excellent enterprises, and public services, they should establish a mechanism to promote the development and growth of specialized, refined, unique, and new small and medium-sized enterprises, and continuously stimulate the innovation vitality of small and medium-sized enterprises.

Information source: Economic Daily