The launch ceremony. [Photo/WeChat account: wenzhoutoucu]
Wenzhou, a city in East China's Zhejiang province, has launched the "Starry Sky" plan to create a friendlier environment for micro, small, and medium-sized enterprises. The plan aims to address the challenges faced by MSMEs and boost their confidence in development, local media reported.
Through policy support in areas such as entrepreneurship, innovation, market expansion, finance and legal protection, Wenzhou aims to become a model city for MSME-friendly initiatives in China.
As part of the plan, Wenzhou will focus on market expansion by increasing government procurement and promoting the application of high-quality products.
The plan also emphasizes the importance of innovation and aims to nurture 5,000 innovative MSMEs by 2025.
It includes measures to support entrepreneurial activities, encourage talent entrepreneurship, and develop MSME-industry clusters. It also aims to improve access to credit and financing for MSMEs by enhancing credit incentive mechanisms and optimizing financial service models.
Wenzhou's initiative to create an MSME-friendly city comes at a crucial time, as MSMEs are facing increasing difficulties due to external uncertainties. By improving the business environment and providing targeted support, Wenzhou hopes to stimulate the growth and vitality of its MSME sector.
"The main difficulties that we small and medium-sized enterprises currently face are insufficient demand and the need to boost confidence in development," said Huang Xianfeng, a manager of Zhejiang Cloud Valley. In response to this, the "Starry Sky" plan proposes four measures, aiming to achieve a total service trade and digital trade value exceeding 90 billion yuan ($12.4 billion) by 2025.
