Ministry of Industry and Information Technology: Promote the establishment of the second phase of the National Small and Medium-sized Enterprise Development Fund.

Xie Shaofeng, Chief Engineer of the Ministry of Industry and Information Technology, stated that in the next step, we will continue to strengthen public welfare services around the most concerning issues for small and medium-sized enterprises, such as policies, talents, funding, markets, innovation, and compliance, in order to continuously promote the high-quality development of small and medium-sized enterprises. In terms of policies, we will research and revise the standards for classifying small and medium-sized enterprises. We will also work with the State Taxation Administration to carry out the "Spring Rain Nurtures Seedlings" initiative to make tax policies more convenient and beneficial for small and micro-enterprises. In terms of funding, we will promote the establishment of the second phase of the National Small and Medium-Sized Enterprise Development Fund to attract more social capital to invest early, invest in small amounts, invest for the long term, and invest in hard science and technology. We will implement the "Regulations on Ensuring Payment of Funds to Small and Medium-Sized Enterprises" to safeguard the legitimate rights and interests of small and medium-sized enterprises. In terms of innovation, we will deepen the "Hundreds of Events for Thousands of Enterprises" activities to facilitate cooperation between large, medium, and small enterprises, and promote the entry of innovative products from small and medium-sized enterprises into the supply chains of large enterprises. We will also implement the "Patent Industrialization to Promote the Growth of Small and Medium-Sized Enterprises Plan" in collaboration with the State Intellectual Property Office to strengthen guidance on technological innovation for small and medium-sized enterprises. By pooling service resources, enhancing service capabilities, and helping small and medium-sized enterprises overcome difficulties, we aim to achieve high-quality development for them.