Country for PR: China
Contributor: PR Newswire Asia (China)
Friday, November 08 2019 - 19:09
AsiaNet
Xinhua Silk Road: China strives to nurture more hidden champion enterprises to quicken SMEs development
BEIJING, Nov. 8, 2019 /PRNewswire-AsiaNet/ --

China has sought to nurture more hidden champion enterprises in a bid to push 
forward the development of small and medium-sized enterprises (SMEs), according 
to the Hidden Champions Development Summit held on Thursday during the second 
China International Import Expo (CIIE) in east China's Shanghai.

Photo - https://photos.prnasia.com/prnh/20191108/2637176-1 
(Gan Lin, deputy chief of the State Administration for Market Regulation 
(SAMR), delivers a speech at the Hidden Champions Development Summit during the 
second China International Import Expo (CIIE) in Shanghai, November 7.)

As China is at the critical period of transforming the development model, 
optimizing the economic structure, and shifting the growth drivers, it has 
significant realistic meanings for the country to foster more hidden champion 
enterprises, said Gan Lin, deputy chief of the State Administration for Market 
Regulation (SAMR) at the summit.

"Hidden Champions", a concept coined by Hermann Simon, a German SME management 
specialist, refers to those in a certain subdivision or industry that achieve 
the world's leading position.

Hermann noted that although China's hidden champion enterprises are still in 
their infancy, their development momentum is rapid, especially in the field of 
R&D, thanks to abundant capital supports.

Liu Zhengrong, vice president of Xinhua News Agency, pointed out that hidden 
champion enterprises play a very important role in cultivating new growth 
drivers and achieving high-quality economic development.

China's economic growth has shifted from high-speed growth to high-quality 
development, which helps inject fresh impetus into the growth of global hidden 
champions, said Huang Guoliang, head of Quality Development Bureau of the SAMR, 
adding that China's huge domestic demand provides a broad market for the 
development of global hidden champions, and premium industrial resources also 
create a rare opportunity for hidden champions.

At the forum, a program of looking for hidden champion enterprises in China was 
launched jointly by the China Economic Information Service (CEIS) of Xinhua 
News Agency and the Development Research Center of the SAMR, with the aim to 
support development and growth of the hidden champion enterprises through 
systematic research, search for enterprises, exploration of traits, in-depth 
exploration, standard setting, etc.

The summit was held jointly by the CEIS and the Development Research Center of 
the SAMR.

See the original link: https://en.imsilkroad.com/p/309273.html

SOURCE  Xinhua Silk Road Information Service

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