Small and medium-sized enterprises (SMEs), as closely tied conduits to millions of households, play a vital role in driving innovation, boosting employment, and improving livelihoods. The China Centre for the Promotion of SME Development released the 2024 Annual SME Development Environment Assessment Report on May 19, in which Qingdao ranked eighth among sub-provincial and higher-level cities in overall performance.
The report assessed 50 representative cities across key indicators, including market environment, legal environment, financing conditions, innovation capacity, and policy support. Findings show that the overall development environment for SMEs in China continues to improve with narrowing disparities in market conditions among cities, in addition to ongoing removal of market entry barriers, plus notable progress in building a unified national market. SME operating income levels in 2024 remained generally stable, with 60% of surveyed enterprises reporting either growth or steady performance. Notably, those identified as "specialized, refined, distinctive, and innovative SMEs" demonstrated stronger operational resilience.
Based on overall scores, Shanghai, Beijing, Shenzhen, Guangzhou, Hangzhou, Nanjing, Ningbo, Qingdao, Tianjin, and Wuhan ranked among the top 10 sub-provincial and higher-level cities. According to the report's breakdown of top-performing cities across individual indicators, Qingdao placed among the top five in the market environment category.
Qingdao was also highlighted in the report for its best practices in improving the SME development environment, particularly in promoting collaboration among large, medium, and small enterprises. The city's case was included as a model example. Relying on a model of "government facilitation, enterprise matchmaking, coordinated supply and demand, and mutual benefit," Qingdao has established the "Lianwanqi" supply-demand matchmaking internet platform to enable long-term product showcases, targeted recommendations, and efficient interaction between suppliers and buyers.
