GDD to pilot innovative SME business environment

Guangzhou Development District (GDD) will step up its efforts to optimize its business environment to better serve local small and medium-sized enterprises (SMEs).

This came in response to China's pilot reform of business environment innovation in Guangzhou and five other cities, which aims to facilitate business operations, tap into market strength, and build a market-oriented international business environment governed by a sound legal framework, the State Council announced during a meeting with the media on Nov 19.

The State Council makes it clear that a pilot reform of business environment innovation will be rolled out in Guangzhou during a meeting on Nov 19. [Photo/china.com.cn]

GDD will help push forward the innovation and achievement transformation of SMEs by providing all-round services in R&D, incubation and industrialization. It will also improve intellectual property rights prizing and trading mechanisms to expand SMEs' financing channels.

In addition, the district will bring in cutting-edge and urgently needed talents and improve talent assessment systems to establish itself as an international talent harbor. Intelligent market supervision mechanisms will also be established by relying on big data technology and the tiered credit classification of enterprises.

GDD is home to more than 40,000 SMEs that cover a wide range of industries, and it has rolled out many pioneering reform measures over the years that can be implemented elsewhere in the country.

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