China Strengthens Support for SMEs Expanding Overseas
February 2023—China’s Ministry of Industry and Information Technology (MIIT) has unveiled new initiatives to help small and medium-sized enterprises (SMEs) step onto the global stage. Focusing on policy support, market access, talent development, and management enhancement, these measures aim to bolster the international competitiveness of Chinese SMEs.
The MIIT has urged banks to provide tailored cross-border financing solutions for SMEs, strengthen overseas support, and enhance financial risk management. These steps are designed to secure a solid footing for SMEs in the global marketplace.
Launched alongside these measures is the 2025 Enterprise Global Expansion Program, introduced by the MIIT and its Center for International Economic and Technological Cooperation. Announced on February 8, the program seeks to facilitate international cooperation and help manufacturing firms integrate into global supply chains.
From February to April this year, a series of industry-focused matchmaking events will take place in Russia, Central Asia, ASEAN countries, Japan, and the Republic of Korea. These events aim to promote direct engagement with local governments and business organizations, opening doors for Chinese SMEs to forge international partnerships.
The program also emphasizes collaboration with governments, industries, academia, and research institutions. By providing resources in customs, logistics, and public services, it endeavors to create a supportive ecosystem for SMEs venturing abroad. An industrial cooperation event set for late February aims to enhance business ties between China and the United Arab Emirates.
MIIT officials highlighted that industrial cooperation has strengthened technology sharing, optimized resource allocation, and driven economic growth. In recent years, China has fully liberalized foreign investment in manufacturing, expanded telecom sector access, and launched pilot programs in Beijing, Shanghai, Hainan, and Shenzhen for foreign telecom service providers.
In 2022, China signed 28 cooperation agreements with 24 countries and regions, including ASEAN members, Germany, Italy, and Brazil. These agreements have fostered industrial development, information and communication technology, and SME cooperation. Additionally, fifteen Chinese-foreign SME cooperation zones have been established in Guangdong, Jiangsu, and Zhejiang provinces.
According to China’s National Bureau of Statistics, the country’s total trade volume reached 43.85 trillion yuan (approximately $6.13 trillion) in 2022, up 5.0 percent from the previous year. Exports rose 7.1 percent to 25.45 trillion yuan, while imports increased 2.3 percent to 18.39 trillion yuan.
The global expansion program is expected to boost the competitiveness of SMEs and further integrate them into global markets, contributing to China’s economic growth and international trade presence.
