An aerial view of Xiamen in East China's Fujian province. [Photo/Xiamen Daily]

Xiamen has been taking a host of measures to create a conducive environment for the growth of small and micro technology-based enterprises. 

For example, authorities have integrated innovation chains, industry chains, capital chains, and talent chains to promote the innovative development of Xiamen's private economy.

Xiamen emphasizes on the cultivation of leading private enterprises. Regular identification work of leading private enterprises is conducted and enterprises reaching certain standards in output value and revenue are rewarded.

Xiamen is the first city in Fujian province to build a "whole period cultivation system" from small and medium-sized enterprises to national level high-tech listed enterprises. As of June 30, 120 national specialized and new "little giant" private enterprises have been cultivated.

To promote the transformation and upgrading of the private economy, Xiamen has provided support to private enterprises to increase their research and development investment. In 2022, the allocation of nearly 410 million yuan ($56.3 million) in R&D subsidy funds benefited 999 private enterprises. 

Looking ahead, Xiamen authorities will enhance policy support, conduct comprehensive coordinated assistance and achieve a leap in the quantity and quality of private enterprises that are specialized "little giant" enterprises, and champion manufacturing enterprises.