China has unveiled a suite of measures to empower small and medium-sized enterprises (SMEs) in their international growth strategies, signaling a push to strengthen cross-border economic partnerships. The Ministry of Industry and Information Technology (MIIT) announced policies in early February targeting four key areas: policy support, market access, talent development, and operational efficiency enhancements.
The initiative includes tailored cross-border financing solutions from banks, expanded overseas support networks, and improved financial risk management frameworks. With SMEs accounting for over 60% of China's GDP and 80% of urban employment, the move highlights their critical role in global supply chain diversification.
MIIT officials emphasized collaboration with international trade organizations to simplify compliance processes, while fintech innovations are expected to streamline cross-border transactions. 'This is about building resilience,' stated an MIIT spokesperson. 'We’re equipping SMEs with tools to navigate global markets confidently.'
Reference(s):
cgtn.com
