Beijing aims to increase the number of specialized and innovative small- and medium-sized enterprises (SMEs) from 7,180 to 10,000 and their revenue from around 800 billion yuan to 1 trillion yuan in 2024, according to the Beijing Municipal Bureau of Economy and Information Technology.

These SMEs have pioneered Beijing's technological innovation and industrial upgrade. Over 60% of such enterprises saw a revenue increase of over 10% year on year. Over 40% of the companies reported at least 15% of their expenditure on research and development. 

Striving to provide all-rounded services, Beijing will open 100 services stations for specialized and innovative SMEs this year, with the first 30 stations already in operation at the beginning of 2024, according to a person in charge of the bureau. 

The service stations will help enterprises understand the latest policies, provide professional services, and report companies' needs to governments through a coordinated service mechanism. 

As for financing services, Beijing introduced a mini app in October 2023, engaging 16 banks and a number of equity investment institutions, and benefiting over 2,500 SMEs. 

Furthermore, the city will optimize industrial chains to cultivate high-value SMEs, improve supply-side services, mobilize resources to deliver professional services, and organize activities to facilitate enterprises in financing and recruitment. 

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