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Medium, small and micro businesses flourishing
10.13.2017

    Owners of medium, small and micro-sized enterprises in Shanghai felt they were in the best time of the recent five years, according to a report released on Wednesday by the Shanghai Committee of the China National Democratic Construction Association at a forum.

    The report showed that the enterprise owners' evaluation on their own operation conditions and the business environment reached the highest level of the past five years.

    Their evaluation dropped to the lowest point in 2015, but has been getting progressively better over the previous two years.

    Though they felt higher pressure in terms of costs in human resources and logistics, they reported increased financing channels, customer orders, and improved government services and legal environment. They also showed more optimistic prospects on both the economy and their own enterprises.

    More than 57 percent of enterprises said their operation revenue was over 100,000 yuan per capita, compared to about 34 percent last year.

    The enterprises also launched more programs to boost innovation this year than before. Nearly 58 percent said they had such programs, while the rate was less than 42 percent last year.

    More than half of the enterprises have increased investment in innovation by 5 to 10 percent this year, with an increase of over 23 percent by more than 10 percent, both higher figures than last year.

    Innovation is helpful in improving production efficiency, according to more than 53 percent of enterprises.

    The committee also unveiled a big data application research center and signed a cooperation agreement with the Shanghai Data Exchange Corp to support the city's efforts in building up a strategic highland of big data in the city, and to provide support for the committee in giving advice to the government.

    It will also help promote cooperation in big data among enterprises owned by the committee members.