Guizhou launches five-year development plan for SMEs

The Guizhou Industry and Information Technology Department recently released a development plan for small and middle-sized enterprises, or SMEs, during the 14th Five-Year Plan (2021-25) period.

The plan predicts that by 2025, Guizhou will have 7,500 SMEs – each with an annual revenue of more than 20 million yuan ($3.12 million) – and 60 percent of the province's total annual industrial added value will be contributed by SMEs.

The projections indicate that during the period, Guizhou's SMEs will employ 600,000 people.

The plan sets out seven development targets for SMEs: improving their overall level of development, stimulating innovation and entrepreneurship vitality, achieving progress in cluster development, improving digital and green development capabilities, improving service systems and optimizing their business environment.

By 2025, Guizhou will have cultivated more than 500 provincial elite SMEs, 80 national "small giant" SMEs and 10 national and 20 provincial innovation and entrepreneurship demonstration bases for micro and small-sized enterprises.

The digital application capabilities of SMEs are expected to be enhanced, while the number of intelligent production lines, workshops and factories among SMEs will be increased.

Guizhou will have 30,000 SMEs using cloud computing services and 8,000 sets of equipment connected to the internet by 2025.

During the period, plans are for Guizhou to cultivate 20 national and 60 provincial public service demonstration platforms for SMEs, complete public service platform networks and improve the quality of service for SMEs.