Wuxi works to support high-quality development of SMEs

The Huawei Wuxi Innovation Center, Wuxi National Software Park, and Wuxi Internet of Things Industry Association jointly launched 32 special measures to promote the high-quality development of small- and medium-sized enterprises on May 6.

According to officials, the development of specialized and sophisticated small- and medium-sized enterprises that produce new and unique products is of great significance to the industrial development of Wuxi, especially in the internet of things industry.

Zhang Fan, head of the IoT industry development department of the Wuxi bureau of industry and information technology, said that Wuxi has launched municipal and district-level supportive policies for the development of small- and medium-sized enterprises. The city is also working to provide them with more support in terms of funding, personnel, and development of business incubation platforms.

To date, Wuxi's IoT industry has developed 15 national "little giants”, companies which specialize in niche sectors, command high market shares and boast strong innovative capacity.

Jiangsu CAS Nor-West Star Information Technology, a local high-tech company pioneering the development of IoT applications for elderly care services in China, was recognized as a provincial specialized and sophisticated enterprise that produces new and unique products in 2021.

Zhang Tiannian, director of the company's strategic development department, said the company enjoyed a good business environment and support from the government.

China aims to nurture 1 million innovative SMEs, 100,000 specialized and sophisticated enterprises that produce new and unique products, and 10,000 "little giants" from 2021 to 2025, amid an ambitious plan to boost the vitality of SMEs in its sprawling industrial economy.