Policy Interpretation: China’s 14th Five-Year Plan for Promoting SME Development

26 February 2022

On 25 January, the EU SME Centre, the European Union Chamber of Commerce in China and China Centre for Promotion of SME Development, Ministry of Industry and Information Technology (MIIT) hosted a joint Working Group meeting, where Mr Sun Wenkai, vice president of the National Institute of Small and Medium Enterprises at Renmin University of China, provided a detailed analysis of China’s 14th Five-Year Plan for Promoting SME Development.

In December 2021, China has unveiled its 14th Five-Year Plan (FYP) for Promoting the Development of Small and Medium‑sized Enterprises (SMEs). According to the document, SMEs are set to witness steady improvement in their overall development quality, innovation capability, specialization level as well as the operation and management levels by 2025. Major targets mapped out by the plan include: increasing the per‑capita operating income of SMEs by over 18%, increasing the annual R&D expenditure of small industrial enterprises by over 10%, and achieving an average annual growth rate of over 10% in the number of patent applications by the end of 2025.

Find Mr. Sun Wenkai’s presentations (Chinese and English version) below

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