China's Ministry of Industry and Information Technology (MIIT) on Sunday hosted a major forum aimed at boosting the real economy and supporting the development of small and medium-sized enterprises (SMEs) during the Annual Conference of Financial Street Forum 2024, which concluded on the same day in Beijing.
MIIT authorities said that they will improve the services ecosystem by comprehensively utilizing credit and utilizing several other means to provide diversified financial services for innovative entities.
A supporting matchmaking event for the three-day Financial Street Forum was also held on Saturday to help SMEs acquire financing. More than 60 SMEs and over 100 investment institutions joined the activity and engaged in face-to-face exchanges and negotiations, with many saying they are encouraged by recent developments.
"Our company's major focus is the development of AI technology and Big Data. As a private enterprise, we felt very encouraged when the National Financial Regulatory Administration announced it would promote financing to small- and medium-sized enterprises. We believe easy access to financing will definitely help us grow," said Meng Weixun, secretary to the board of Wiseweb, a Chinese enterprise focusing on applications of big data and AI models in financial fields.
Others also pointed to the supportive measures in key sectors including towards the green transition and conservation projects.
"Our company focuses on centralized heating projects in industrial parks. These projects are geared towards environmental protection. Currently the country has lots of support programs for our environmental protection projects, such as those in financing, technological transformation and more. So, we believe the business environment is great for us to develop," said Yu Ruowei, founder of Beijing Zhongrui Environmental Science and Technology Comprehensive Energy Development company.
Themed "Trust and Confidence -- Work Together to Promote Financial Openness, Cooperate for Shared Economic Stability and Growth," the year's Financial Street Forum was attended by over 500 representatives from 30 countries and regions around the world, while concurrent sessions were also held in Hong Kong, Luxembourg and Tokyo alongside the main events in Beijing.
MIIT discusses ways to boost SMEs' development at Beijing Financial Street Forum
