China Issues Classification Standards for SMEs
China’s Regulations on the Standards for Classification of Small and Medium-sized Enterprises (the “Regulations”) were jointly promulgated by the Ministry of Industry and Information Technology, the National Bureau of Statistics, the National Development and Reform Commission, and the Ministry of Commerce on June 18, 2011 and came into effect on the same date.
The Regulations divide small and medium-sized enterprises (SMEs) into three categories: medium, small and mini. The upper limit standard for medium-sized enterprises is the lower limit standard for large-sized enterprises. Individual businesses and industries other than those specified in the Regulations are also categorized by reference to the Regulations.
The specific standards for different industries are as follows: