The first National Forum on Optimizing the Environment for the Development of Small and Medium-sized Enterprises was held recently. During the forum, the China Small and Medium-sized Enterprise Development Promotion Center released the 2020 Annual Assessment Report on the Environment for the Development of Small and Medium-sized Enterprises.

According to the report, Changsha ranked the 11th in China and the first in central China. It was among the top 10 in China as to the rankings of legal environment and financing environment.

As an important part to implement the mass entrepreneurship and innovation initiative, small and medium-sized enterprises play an irreplaceable role in increasing employment, promoting economic growth, scientific and technological innovation and social harmony and stability. They are of great strategic significance to national economic and social development.

A total of 36 sample cities were selected, including 4 municipalities, 5 cities specifically designated in the state plan, and 27 provincial capital cities. The evaluation was carried out independently by a third-party agency based on five aspects: market environment, legal environment, financing environment, innovation environment and policy environment.

The top 10 were either municipalities or sub-provincial cities. Changsha stood out among non-sub-provincial cities, ranking 11th as a whole in China and the first in central China. Changsha ranked 6th and 10th nationwide in the legal and financing environment rankings. Changsha arranged special funds to support the financing and product innovation of “specialized and innovative” small enterprises. This practice was introduced as an advanced experience of constructing an innovation and development ecosystem for small and medium-sized enterprises.

Source: en.changsha.gov.cn