Following the official announcement of the "Fourth Batch of Provincial 'Specialized and New' demonstration enterprises" by Hebei Provincial Department of Industry and Information Technology on December 17th and the notice issued on December 30th, Chi Yuan Chemical has successfully applied for the Specialized and New SMEs and Model Units project.
What does "Specialized and New" SMEs mean?

     "Specialized and New" SMEs are small and medium-sized enterprises that specialize in specific market segments, refine their products or services, create distinctive features, and innovate constantly. To encourage SMEs to pursue this path of development, various levels of SME authorities have recognized and supported a number of "specialized and new" SMEs. Among them, the "specialized and new" "Little Giants" are the cream of the crop. They are leading enterprises that dominate their niche markets with strong innovation capabilities, high market share, key core technologies, and excellent quality and efficiency. Typically, provincial-level SME authorities recognize provincial-level "specialized and new" SMEs, while the Ministry of Industry and Information Technology recognizes "specialized and new" "Little Giants".

       Why should we apply for the specialized and new recognition?

       The government has been showering policy support on specialized and new enterprises.
The national level has issued a list of practical matters for specialized and new SMEs, which includes 10 items and 31 specific tasks in areas such as financial and tax support, credit support, direct financing support, industrial chain collaborative innovation, innovation capability improvement, digital transformation, talent and intelligence support, market expansion assistance, precise service docking, and ten thousand people helping ten thousand enterprises activities.

       A more important point is that government departments have recognized "specialized and new" as an effective approach to boost enterprise competitiveness. The central leadership has pointed out that our country's large enterprises are big but not strong, while the numerous small enterprises are vigorous but lack market competitiveness and upgrading ability. A very important point for cultivating excellent enterprises with core competitiveness and consolidating the micro foundation of a high-standard market system is that "a large number of private enterprises should develop in the direction of 'specialized and new', and unify the adventurous entrepreneurial spirit with the standardization of corporate governance."

      Chiyuen Chemical closely followed the policy and applied to become a provincial demonstration enterprise of specialization, refinement, specialization and innovation
Chiyuen Chemical proactively responded to the national and economic development trend. In October 2021, with Chiyuen Chemical Office as the leader and various professional departments as the collaborators, it applied for Hebei Province's "specialization, refinement, specialization and innovation" small and medium-sized enterprises and Hebei Province's "specialization, refinement, specialization and innovation" demonstration enterprises. After passing the provincial preliminary examination and provincial expert group review, it finally got approved in December 2021. It was a great achievement.

      This time, Chiyuen Chemical received the honors of Hebei Province's "Specialized, Refined, Specialized and Innovative" Small and Medium-sized Enterprise and Demonstration Enterprise. This not only enhanced the company's image, reputation and influence, paving the way for its long-term growth, but also set an example for other chemical enterprises in the province, bearing a great expectation from others.

      Moving forward, Chiyuen Chemical will strive harder, lead and inspire others, boost its core competitiveness, and achieve new milestones of innovation. Building on the success of being recognized as a specialized, refined, specialized and innovative small and medium-sized enterprise, we will pursue further recognition as a provincial and national level specialized, refined, specialized and innovative "little giant" enterprise!