How big is the role of small and medium-sized enterprises in driving the regional economy?

Recently, the CPC Central Committee and the State Council have intensively issued a series of policies to support the development of small and medium-sized enterprises
.
How big is the driving effect of the development of small and medium-sized enterprises on the regional economy? In this regard, Liang Zhifeng, director of the Small and Medium Enterprise Bureau of the Ministry of Industry and Information Technology, responded at the State Council's regular policy briefing on May 18, saying that by sorting out domestic and foreign economic theoretical research results, and based on statistical data and third-party data, build a panel based on The fixed effect model of the data analyzes the relationship between the development level of small and medium-sized enterprises and the level of local economic development in multiple dimensions
.
The results show:

First, the development of SMEs is positively correlated with the main indicators of the regional macro economy
.
Through basic data analysis, indicators such as the number of small and medium-sized enterprises, total tax payment, and total profit are significantly positively correlated with macroeconomic indicators such as regional GDP, tertiary industry GDP contribution rate, and fiscal revenue.
The correlation coefficients between the total tax and regional GDP and fiscal revenue are all greater than 0.
88, which is a good confirmation with the results of the National Bureau of Statistics analysis
.

Second, the development of small and medium-sized enterprises promotes regional GDP growth
.
At the provincial level, for every 1% increase in the number of small and medium-sized enterprises, operating income, and employees, the province's GDP will increase by 0.
12%, 0.
14%, and 0.
24%, respectively
.
At the prefecture-level city level, for every 1,000 increase in the number of small and micro enterprises, the city's GDP will increase by 1.
43%
.

Third, the development of small and medium-sized enterprises has significantly increased regional tax revenue
.
At the provincial level, for every 1% increase in the number of small and medium-sized enterprises, operating income, and employees, the province's tax revenue will increase by 0.
21%, 0.
21%, and 0.
36%, respectively
.
At the prefecture-level city level, for every 1,000 increase in the number of small and micro enterprises, the city's tax revenue will increase by 0.
17% on average
.

Fourth, the innovation of small and medium-sized enterprises has significantly promoted regional economic growth
.
The study found that for every 1% increase in the three innovation indicators of SMEs' R&D personnel, R&D expenses, and the number of valid invention patents, the province's GDP will increase by 0.
08%, 0.
06%, and 0.
05%, respectively
.

Fifth, the development of small and medium-sized enterprises increases residents' income and promotes common prosperity
.
At the prefecture-level city level, for every 1,000 increase in the number of small and micro enterprises, the number of employees in the city will increase by 0.
68%, and the wage level will increase by 0.
78%
.
From the micro-household level, it is found that the income level of households operating small, medium and micro enterprises has increased significantly, and the increase rate has reached 26.
7%
.
At the same time, households engaged in the operation of small, medium and micro enterprises are more likely to become middle-income and high-income groups, with an increased probability of 27% and 78.
8% respectively
.

In addition, by constructing a moderating effect model for quantitative verification, we found that the better the development environment of SMEs, the higher the government-business relationship index, the more SMEs can play a more significant role in driving regional GDP and wage growth
.

Liang Zhifeng said that in general, both theoretically and empirically, it has been shown that China's economy will be good if small and medium-sized enterprises are good; the regional economy will be strong when small and medium-sized enterprises are strong
.
Vibrant SMEs are an important guarantee for China's economic resilience and an important foundation for achieving common prosperity
.
It is necessary to further intensify efforts to create a good development environment for small and medium-sized enterprises, and form a virtuous interactive cycle between enterprise development and economic development
.

Small and medium-sized enterprises are a new force for national economic and social development, as well as an important force for expanding employment, improving people's livelihood, and promoting innovation and entrepreneurship
.
For many years, SMEs have been an important force in our market, accounting for more than 90% of the total number of enterprises
.
It can be said that there is a very close relationship between the development of small and medium-sized enterprises and regional economic growth
.

Tang Weiwei, head of the Industrial Statistics Department of the National Bureau of Statistics, also pointed out at the meeting that SMEs are a new force in national economic and social development, as well as an important force in expanding employment, improving people's livelihood, and promoting innovation and entrepreneurship
.
For many years, SMEs have been an important force in the market, accounting for more than 90% of the total number of enterprises
.
It can be said that there is a very close relationship between the development of small and medium-sized enterprises and regional economic growth
.

Tang Weiwei introduced that the National Bureau of Statistics has recently collected the regional gross domestic product and the main indicators of the operating income, total profit, total assets, number of employees and number of enterprises of small and medium-sized industrial enterprises in the past ten years.
The relationship between development and regional economic growth is studied
.
The research results show that the correlation coefficient between the development of small and medium-sized industrial enterprises and regional economic growth reaches 0.
83
.

The correlation coefficient is 0.
83, which means that there is a strong positive correlation between the development of small and medium-sized industrial enterprises and regional economic growth
.
In other words, if the small and medium-sized enterprises develop well, the economic growth of this region will be fast and the regional economic vitality will be strong
.

"At the same time, we also have a regression model in the report, which shows that every 1% increase in the operating income of small and medium-sized industrial enterprises in the past ten years can drive a 0.
13% increase in the regional GDP
.
Therefore, based on this research result, we think how the current situation is It is very important and necessary to further optimize the support measures for small and medium-sized enterprises, ensure that the central government's decision-making and deployment are carried out carefully, and help small and medium-sized enterprises to overcome difficulties and continue to develop
.