Small and medium-sized enterprises (SMEs) in Guangzhou's Huangpu district have shown robust growth in recent years.
In 2019, local private enterprises and SMEs contributed to 64.2 percent of the district's employment, 64.5 percent of the district's operating revenue, and 93.4 percent of the district's commodity sales volume.
There are now more than 20,000 private enterprises and SMEs in Huangpu. More than 80 percent of local industrial enterprises above designated size are private enterprises and SMEs. More than 80 percent of high-tech enterprises are private enterprises and SMEs. More than 80 percent of authorized invention patents, technological innovation achievements, and new products come from private enterprises and SMEs.
Guangzhou Science City is home to a large number of SMEs.
Huangpu has been committed to cultivating private sci-tech SMEs in the fields of new-generation information technology, new materials, new energy, and biomedicine that will bolster high-quality development.
For instance, local SMEs have collectively promoted the rapid development of the biomedical industry in Huangpu. At present, Huangpu ranks first in Guangzhou in all nine indicators of the biomedical industry. In the future, SMEs will become the backbone of Huangpus's biomedical industry.
Huangpu has issued a plan to establish itself as a pilot demonstration zone for the development of private sci-tech SMEs. The number of local private sci-tech SMEs will reach 3,500 by 2023, and 5,000 by 2025. A group of unicorns, 100 enterprises with industry leading advantages, as well as one or two private enterprises with important global industrial influence will be cultivated.