"14th Five-Year Plan to Promote the Development of Small and Medium-Sized Enterprises" in China (2021-2025): Innovation Component

Abstract

China intends to focus on growth points in the coming years, which should be based on technological progress, advanced training of workers and innovation. A significant place in this process is given to creating a favorable environment for the development of small and medium-sized businesses, since it is in these sectors that most innovative products, inventions and technological innovations are created. New approaches to the development of national small and medium-sized enterprises (SMEs), the disclosure of their scientific and technical potential became the subject of priority attention from the state during the 14th five-year plan. In order to effectively mobilize the entrepreneurial and innovative activity of SMEs, lay a solid foundation for sustainable development and increase their innovative potential, the Ministry of Industry and Information Technology, together with 19 departments and divisions, for the first time developed and issued special document — "The 14th five-year plan to promote the development of small and medium-sized enterprises" for the period 2021-2025, by integrating it into a new concept of high-quality development of the country. The plan considers the need to focus on increasing the innovative potential and professional level of SMEs, as well as on creating a solid foundation for the cultivation of technologically advanced SMEs with a great prospect of specialization and development, as a key project for the next five years. The article provides a comprehensive analysis of the main directions, tasks and goals of the development of small and medium-sized businesses, as well as the methods of their implementation outlined in the plan. It is concluded that this program should become the basis for further powerful breakthrough of China in a number of critically important innovative and high-tech industries and sectors of the economy on the path of "comprehensive modernization the state", scheduled for the middle of the 21st century.