February 23, 2024

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China’s SMEs Driving Innovation in Manufacturing

China’s medium-sized enterprises (SMEs) play a vital role in driving innovation in the manufacturing sector, with SMEs producing novel and distinctive products at the vanguard of this trend.

A medical technology company described a device that could assist individuals with mobility issues to walk without an external power source. The device, a passive wearable exoskeleton, supports the hip and knee joints of the human body using the mechanical and physical principle of the pendulum and the human body’s gravitation, thereby eliminating the need for a motor driving force. This ground-breaking innovation has the potential to transform the lives of people with impaired mobility by allowing them to walk independently.

Another company that specialises in providing integrated solutions for robotic systems in the energy industry has developed a wall-climbing inspection and cleaning robot that can travel on the surface of large metal cans via magnetic adhesion.

Equipped with a high-definition camera, the robot can collect images and detect flaws while cleaning, eliminating the inefficiency and dangers associated with manual detection in power plants. These are only a few examples of the cutting-edge technologies and products developed by China’s specialised and sophisticated SMEs.

According to Li Zibin, president of the China Association of Small and Medium Enterprises, specialised and advanced SMEs that produce novel and distinctive products are becoming the cradle of new industries, new business forms, and new models, propelling China’s manufacturing industry towards a more advanced, intelligent, and environmentally friendly development.

As reported by the Ministry of Industry and Information Technology, China has cultivated over 70,000 specialised and advanced SMEs that produce novel and unique products, with nearly 9,000 of them being “little giant” firms. These small and medium-sized enterprises are spurring innovation across multiple industries, from medical technology to energy, and creating new opportunities for economic expansion.

Numerous Chinese local governments have been actively instituting policies to foster the growth of specialised and advanced SMEs to encourage their expansion.

Liaoning Province, for example, has issued a work plan to improve the gradient training system for specialised and advanced SMEs, whereas Anhui Province has set a goal of establishing more than 5,000 provincial-level specialised and advanced enterprises by 2025, including 500 national-level specialised and advanced “little giant” firms.

Also, the Beijing Stock Exchange has recognised the importance of these SMEs and prioritised them, building a comprehensive market structure to provide full-chain services for their growth. Currently, over 70 specialised and sophisticated “little giant” corporations are registered on the Beijing Stock Exchange, accounting for 40% of the total 186 listed companies.

These SMEs, as Li Zibin pointed out, are not only driving innovation but also powering China’s change of its development mode, optimising the economic structure, and shifting the growth momentum. Specialised and sophisticated SMEs are propelling China towards a more modern, intelligent, and sustainable manufacturing industry with their original and unique goods. They are placing China as a global leader in technology development and economic growth as they continue to thrive and innovate.

By utilising cutting-edge technologies, these SMEs are providing solutions to a variety of problems, boosting efficiency, and propelling China towards a more advanced, intelligent, and environmentally friendly development. With the aid of favourable policies and market structures, these SMBs are likely to continue to thrive.

Technology innovation has become a significant growth catalyst for the nation’s SME sector. With favourable government policies, digitalisation, R&D investment, advanced manufacturing, collaboration, IP protection, and internationalisation, Chinese SMEs are increasingly leveraging technology to increase their global market competitiveness and create new opportunities.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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