Macro observation 2022 issue 4 (total issue 401): development status and financial support of Chinese gazelle Enterprises

Gazelle enterprises refer to small and medium-sized enterprises that cross the death valley after entrepreneurship and enter a high growth period supported by scientific and technological innovation or business model innovation. On July 15, 2019, Premier Li Keqiang presided over the Symposium of economic situation experts and entrepreneurs, pointed out that "create favorable conditions, give birth to more 'Unicorn enterprises',' gazelle enterprises' and new leader enterprises, and speed up the cultivation of new kinetic energy and the transformation of old and new kinetic energy", further emphasizing the significance of cultivating gazelle enterprises. As early as 2003, Beijing Beijing Centergate Technologies (Holding) Co.Ltd(000931) science and technology park took the lead in implementing the "Gazelle plan" to provide financing solutions for the "Gazelle enterprises" in the park. Since 2010, some local governments and high-tech zones in China have also issued relevant policies to support the development of gazelle enterprises. After 2014, with the rapid development of "mass entrepreneurship and innovation" across the country, gazelle enterprises have attracted more and more attention from the government and the industry with its strong development potential and vigorous vitality. Based on the current development status and financial policies of gazelle enterprises, this paper systematically summarizes the development characteristics and financing problems of gazelle enterprises, and puts forward corresponding policy suggestions.

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