On November 6, a report titled "Digital and Intelligent Transformation of Small and Medium-sized Manufacturing Enterprises in Developing China" was released in Beijing by the Innovation and Development Research Department of the Development Research Center of the State Council. The report highlights that the world has stepped into a new era of digital and intelligent transformation, with China anticipated to emerge as one of the largest global markets for such advancements in the manufacturing sector. A significant number of small and medium-sized manufacturing enterprises in China are set to become the central focus of this transformative wave.

Currently, the pace of digital and intelligent transformation within China's manufacturing industry is picking up speed. According to projections by the International Data Corporation (IDC), by 2027, budgets allocated by small and medium-sized enterprises in China for IT investment and communication services are expected to surge by 25%, signaling a robust drive towards transformational investment. The report further notes that in recent years, numerous small and medium-sized manufacturing firms in China have embraced digital and intelligent transformation. They have done so by deeply integrating technological innovation with business model innovation, thereby meeting new market demands, creating innovative products and services, and exploring untapped market spaces.