China's small and medium-sized enterprises (SMEs) have gained new guidance resources following the launch of an online service network by the country's Ministry of Industry and Information Technology (MIIT) on Tuesday.
Forming a nationwide SME service network for the first time, the network covers 31 provincial platforms and 169 prefecture-level and city-level platforms.
Services on the network include policy guidance and market search as well as eight categories of enterprise self-testing services.
At present, the service network has gathered more than 200 million data points on contract bids, 190 million data points on business entities, 150,000 provincial and ministerial policy documents, 40,000 data points on recruitment, 300 data points on inspection and testing and technology achievement transformation institutions, and more than 200 financial products.
China has vigorously promoted the construction of a public service system for SMEs. At present, there are more than 1,780 public service institutions for SMEs at the national, provincial, municipal and county levels.
According to the MIIT chief, the network's biggest strength lies in combining off-line institutions with online services.
"Taking this launch as an opportunity, we will better gather various service resources, support policies to benefit enterprises, activate the environment to activate enterprises, provide services to assist enterprises, strengthen enterprises through innovation, and develop enterprises through talents so as to help small and medium-sized enterprises improve their core competitiveness," said Minister of Industry and Information Technology Jin Zhuanglong.
China launches comprehensive service for small, medium businesses
As Western consumers start their holiday shopping, Yiwu, a small commodity hub in east China's Zhejiang Province, sees a surge in exports, with local authorities speeding up export tax refunds to support businesses.
For example, 3D-printed toys sold at the Yiwu International Trade Market, also known as the "world's supermarket," have become especially popular in the United States.
"Normally, we order half a container of goods each month. But during this peak shopping period, we've already stocked up a full container. Now, I'm exploring new products," said Chen Junyu, a purchaser.
"These toys are in high demand right now. Our factory typically produces around 30,000 sets a day, with 70 percent exported to Europe and the U.S. The demand is so strong that some of our clients take products directly from the production line for immediate shipment," said Lyv Xulian, a 3D-printed toy supplier.
As the year-end shopping season begins in Western countries, cross-border e-commerce sellers targeting these markets are entering their busiest period.
For instance, a sporting goods company began its design, production, and stockpiling process two months in advance of the shopping season.
They adjusted stock levels in overseas warehouses based on market trends, increasing their inventory by 20 to 30 percent.
To help Yiwu businesses capitalize on the shopping season boom, local authorities have offered "exclusive tax services," providing round-the-clock support and streamlining the export tax refund process.
"During major sales events, we face financial pressures in logistics and warehousing. Fast export tax refunds ease our cash flow and effectively improve our capital turnover," said Wu Meng, head of the company's finance department.
China's small commodity hub sees exports surge as western holiday shopping season nears
