Recently, at the 6th International Financing Fair for Chinese Enterprises, the minister of Ministry of Science and Technology (MOST) expressed that technology-oriented small and medium-sized enterprises(SMEs) in China play an irreplaceable role in Chinese national economy and social development, and measures will be made to enhance the development of technology-oriented SMEs.
The six initiatives could be summarized as follows: 1. to promote the connection between technology and financing, to try new models in areas of venture capital, capital market and technology insurance with purpose of establishing multi-channel financing system for science and technology; 2. to strengthen the support to SMEs in their research and development and technology commercialization via a series of state-promoted programs such as the Spark Plan, SME Innovation Fund, Science and Technology Achievement Commercialization Fund with emphasis on the SME R&D activities and commercialization; 3. to improve technology incubation and speed up the development of innovative SMEs by establishing technology parks in colleges, business incubators and productivity promotion centers; 4. to implement favorable tax policies that prop up the innovative development of SMEs; 5. to enhance the sustainable development of technology-oriented SMEs by setting up a supportive mechanism covering governmental procurement, technology commercialization, intellectual property, equity incentive, profits distribution, international cooperation and social security; 6. to encourage technology-oriented Chinese SMEs to participate in international cooperation and competition.
