When SMBs are Good, the Chinese Economy will be Good

On the morning of July 27, 2021, the National “Specialized, Refined, Special and New” SME Summit Forum was held in Changsha with the theme of “Specialized, Refined, Special and New to Achieve the Future.” At the opening ceremony, Liu He, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, delivered an online speech. The following is the content of the speech:

Speech by Liu He at the National “Specialized, Refined, Special and New” SME Summit Forum

(July 27, 2021)

Distinguished guests, ladies and gentlemen, friends:

Good morning everyone! Thank you for the invitation from the Hunan Provincial Party Committee and Provincial Government and the Ministry of Industry and Information Technology to participate in the National “Specialized, Refined, Special and New” SME Summit Forum. First of all, I would like to extend my warm congratulations on the convening of the forum and extend a sincere welcome to guests from all over the country!

General Secretary Xi Jinping attaches great importance to small and medium-sized enterprises and has made a series of important instructions on their development. He pointed out that “China’s small and medium-sized enterprises are spirited and energetic. They are good at facing difficulties and never giving up.” He emphasized that “small and medium-sized enterprises can do big things.” Premier Li Keqiang has repeatedly deployed support for the development of small and medium-sized enterprises. Over the past year under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core China’s small and medium-sized enterprises have bravely stood at the forefront daring to innovate overcoming various shocks achieving gratifying results achieving rapid healthy development making important contributions to the overall national economy.

This forum focuses on “Specialized, Refined, Special and New to Achieve the Future” to explore the path of innovation and high-quality development for small and medium-sized enterprises. I hope that representatives and guests attending will have in-depth exchanges to jointly seek development strategies. On this occasion I would like to share three points of understanding and some thoughts with you.

First when small and medium-sized enterprises are good China’s economy will be good. Small and medium-sized enterprises are market players and are a main force in protecting employment. A common rule is that where small and medium-sized enterprises develop well economies are also good. A vibrant small- and medium-sized enterprise diverse differentiated economic ecology is China’s most important guarantee for economic resilience. Therefore we must resolutely support the development of small- and medium-sized enterprises.

Secondly innovation is at the heart of “specialization refinement specialization novelty.” At this stage of China’s economic development technological innovation is both a development issue as well as a survival issue. We emphasize “specialization refinement specialization novelty” in order to encourage innovation to achieve specialization refinement specialization. Entrepreneurs should focus on their main business practice their internal skills strengthen innovation make their businesses into “single champions” or “supporting experts” with unique skills.

Thirdly we need to create a good environment for small- and medium-sized enterprise development. Entrepreneurial spirit is like fish when water temperature is suitable fish will swim over. Today comrades from various departments responsible for small- and medium-sized enterprise work have come. Everyone must truly improve service awareness service capabilities create a good business environment cultivate support “specialized refined special new” enterprises. The capital market will create good conditions for small- and medium-sized enterprise development.

I would like to particularly point out that in order to achieve high-quality development we must adhere to our basic economic system at this primary stage of socialism unswervingly implement “two unwaveringly” fully play the role of state-owned economy vigorously encourage support guide non-public sector economic development firmly protect property rights intellectual property rights adhere to market-oriented rule-of-law international direction create a good business environment. In this new stage of development we coordinate development security relationships with a view to protecting fair competition promoting healthy orderly capital development protecting consumer interests better serving building a new development pattern which objectively creates a good development environment for small- and medium-sized enterprises.

Ladies gentlemen comrades friends China’s socialist market economy development direction will not change reform opening up policy will not change hope that entrepreneurs grasp objective trends in China’s economic social development calmly analyze situation start from national overall interests undertake due social responsibilities adhere to professional deepening overcome various challenges strive for innovation truly achieve high-quality development.

Finally I wish this forum a complete success! Looking forward to small- and medium-sized enterprise development reaching new heights! Thank you everyone!

(Source: Ministry of Industry Information Technology website)

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