These ultra-hard materials and abrasive tool companies will benefit.

Release time:

2021-09-28

Author:

At the National Summit Forum for Specialized, Sophisticated, Distinctive, and Innovative SMEs held on July 27, it was emphasized that we must genuinely enhance our service mindset and capabilities, foster a favorable business environment, and nurture and support specialized, sophisticated, distinctive, and innovative enterprises. The capital market will create conducive conditions for the development of small and medium-sized enterprises.

　　At the meeting of the CPC Central Committee Political Bureau held on July 30, it was made clear that efforts would be intensified to strengthen scientific and technological innovation and the resilience of industrial and supply chains, bolster basic research, advance applied research, launch special campaigns to reinforce and extend critical links in the chain, accelerate the resolution of “bottleneck” problems, and foster specialized, refined, distinctive, and innovative small and medium-sized enterprises.

　　At the 2021 Mid-Year Regulatory Work Conference of the China Securities Regulatory Commission, held on August 20, it was for the first time stated that “further deepening the reform of the New Third Board and striving to enhance the capacity and level of services provided to specialized, refined, distinctive, and innovative small and medium-sized enterprises” would be listed as one of the key tasks to be earnestly carried out in the second half of the year.

　　This clearly indicates that national policies will prioritize the vigorous development and nurturing of “Little Giant” enterprises that are specialized, refined, distinctive, and innovative. The “Notice on Supporting the High-Quality Development of Specialized, Refined, Distinctive, and Innovative SMEs,” issued at the end of January, specifies that from 2021 to 2025, the central government will allocate over RMB 10 billion in awards and subsidies to guide local authorities in improving support policies and public service systems. Through three phases—each lasting no more than three years—the initiative will focus on supporting the high-quality development of more than 1,000 nationally recognized specialized, refined, distinctive, and innovative Little Giant enterprises, thereby enabling them to serve as model entities.

　　Meanwhile, reforms of the New Third Board have been further deepened to address the financing challenges faced by specialized, refined, distinctive, and innovative SMEs, expand its scale, and support their long-term, stable development.

　　“Little Giant” enterprises that are specialized, refined, distinctive, and innovative represent the cream of the crop among SMEs—leading firms that focus on niche markets, demonstrate strong innovation capabilities, enjoy high market shares, master critical core technologies, and deliver superior quality and performance.

Keywords:

Five national standards for abrasives and abrasive tools, including “Terminology of Abrasives and Abrasive Tools,” have been released.

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