Xinhua: GDD offers broad space for SME development

Guangzhou Development District is a place where small and medium-sized enterprises can make a difference.

As of now, the district has more than 20,000 private enterprises and SMEs. Private enterprises and SMEs account for more than 80 percent of industrial enterprises above designated size and over 80 percent of high-technology enterprises.

In addition, more than 80 percent of its authorized invention patents are from private enterprises and SMEs, as are over 80 percent of its technological innovation achievements and new products.

Local private enterprises and SMEs have been shifting from traditional industries to advanced manufacturing and modern service sectors that have more high technology content and added value.

A stone inscribed with "SMEs can do big things".

Accelerating the pace of independent innovation, the SMEs have broken the bottleneck in a number of key technologies such as high-resolution time-of-flight mass spectrometry and digital transformation and upgrading of the traditional discrete manufacturing industry.

The district is now home to the largest and most dynamic science and technology enterprise incubator cluster in South China, and is one of the areas with the most concentrated listed enterprises, most vigorous capital operation, and most rapid development of private enterprises and SMEs in the Guangdong-Hong Kong-Macao Greater Bay Area. 

To stimulate the vitality and creativity of sci-tech private SMEs, the GDD has issued plans for a pilot demonstration zone for the development of sci-tech private SMEs. It is expected to have 3,500 sci-tech private SMEs by 2023 and 5,000 by 2025.

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