Hohhot to support development of SMEs

A plaque awarding ceremony for 25 key supporting small and medium enterprises (SMEs) chosen by Hohhot Economic and Information Technology Commission was held in Hohhot, capital of North China's Inner Mongolia autonomous region, on Nov 2.

In recent years, Hohhot has reduced bureaucracy and enacted various preferential policies for businesses. At present, there are more than 50,000 SMEs in the city, accounting for 92.8 percent of all enterprises, including 4,200 industrial SMEs.

In a bid to speed up the growth of a number of specialized, refined, characteristic and innovative SMEs and promote the high-quality development of the city's industrial economy, Hohhot Economic and Information Technology Commission identified 25 key support enterprises.

In the future, Hohhot plans to concentrate its existing resources to stimulate the vitality of SMEs throughout the city and promote the formation of industrial clusters, in order to develop a high-quality industrial base for the city.