The General Office of the Hunan Provincial People’s Government recently issued the Implementation Plan on Developing New Industrial Enterprises Above Designated Size. The plan was formulated based on the guiding principle of “increasing quantity, stabilizing stock and improving quality”. During the 14th Five-Year Plan period, there will be a net increase of more than 1,000 industrial enterprises above designated size each year. By 2025, the total number of industrial enterprises above designated size in Hunan Province will exceed 25,000.

By the end of last year, Hunan had more than 18,500 industrial enterprises above designated size. During the 13th Five-Year Plan period, the ranking of Hunan in the number of industrial enterprises above designated size rose from 11th to 8th nationwide, and 4th to 3rd in central China. According to the plan, the cultivation of industrial enterprises above designated size is a basic and strategic project to accelerate high-quality economic development and build a hub of advanced manufacturing industry of national importance. Effort will be made in the following aspects to carry out the plan.

Increase quantity. More market entities will be cultivated. The small and medium-sized enterprises each with operating income of 10 million to 20 million yuan will be prioritized this year, to establish a database for key enterprise cultivation. Efforts will be made to supplement, extend, and develop industrial chains for advanced manufacturing industry clusters, and introduce and construct a group of major projects. A key project library will be built to continue to upgrade individually-run businesses to enterprises, small and medium-sized enterprises to companies above designated size, companies above designated size to stock companies, and stock companies to listed ones. 

Stabilize stock. Monitoring of enterprises above designated size in the library will be strengthened. An enterprise library will be built for those with an annual operating income of less than 30 million yuan and have the risk of failing to meet the qualification of enterprises above designated size, to learn about enterprise trends. A special action will be carried out to ease the difficulties and increase efficiency of enterprises, and a "one enterprise, one policy" assistance guidance will be implemented. The moves will help stabilize the development of existing enterprises.
 
Improve quality. Relying on the Implementation Plan of the “Trillion-Billion-Million-Yuan” Projects for Industrial Development, Hunan Province will guide enterprises to be leading and specialized in niche sectors, and upgrade these enterprises into excellent large-scale ones. Efforts will be made to give play to the leading role of pilot enterprises and enterprises in the industrial chain, to drive the integrated development of large and medium-sized enterprises and accelerate the growth of small and medium-sized enterprises in the upstream and downstream of the industrial chain.

The plan clarified that more support will be provided to fiscal and taxation, financing services, and special trainings, so as to overcome the obstacles and bottlenecks hindering enterprise development and enhance the comprehensive competitiveness of enterprises. Local authorities will be encouraged to arrange supporting funds to reward new industrial enterprises above designated size for production and efficiency increasing. Cities, prefecture, counties, and districts that have achieved remarkable results in cultivating new industrial enterprises above designated size will be rewarded.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn