Beijing's number of small- and medium-sized enterprises (SMEs) that use special and sophisticated technologies to produce novel and unique products topped 10,000 in late 2024, generating more than 1.15 trillion yuan ($157 billion) in revenue, according to the Beijing Municipal Bureau of Economy and Information Technology.

The city added 691 specialized and novel SMEs in the fourth quarter of 2024, bringing the total to 10,199. Haidian and Chaoyang districts, along with the Beijing Economic and Technological Development Area, lead in SME growth. These specialized SMEs, concentrated in sectors such as information technology, manufacturing and research and development, have contributed significantly to Beijing's overall economic output.

"We recognize that SME success is crucial for the overall health of the economy," said Yang Jingguo, director of the Small- and Medium-Sized Enterprises Department at the Beijing Municipal Bureau of Economy and Information Technology. "This year, we will continue to focus on nurturing high-quality SMEs and fostering a more supportive business environment."

In 2025, Beijing plans to add 1,000 specialized SMEs and 100 "little giant" enterprises. The latter term refers to elite manufacturing SMEs specializing in niche markets and boasting cutting-edge technologies.

Beijing will expand support for SMEs through increased financing, streamlined services and innovation incentives. The city plans to focus funding on high-tech firms while establishing service centers to improve access to government resources. Officials also pledged continued support for R&D activities and SMEs developing new technologies and products.

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