A roundtable discussion is held during the 2024 UN MSME Day Thematic Event on June 27 in Beijing. (PHOTO: UNDP)

By Staff Reporters

On the occasion of the 2024 Micro, Small and Medium-sized Enterprises (MSMEs) Day on June 27, representatives from government departments, UN agencies, academia, industry associations, and the business sector came together to discuss the crucial role of MSMEs in sustainable development. They also delved into the growth opportunities and challenges that MSMEs face in today's rapidly changing world.

The theme this year was "Powering a Sustainable Future: MSMEs as Drivers of Green Growth," with events held in both Beijing and Chengdu.

Beate Trankmann, resident representative of the United Nations Development Programme (UNDP) in China, pointed out that MSMEs account for 90 percent of businesses around the world, make up 70 percent of employment, and 50 percent of global GDP. They are critical engines for economic growth and innovation, and provide livelihoods to billions of people including women, youth, and many marginalized and vulnerable groups.

Supporting MSMEs is a critical building block in the UNDP’s mission to advance the Sustainable Development Goals (SDGs), she added. In China, she said the UNDP has worked together with partners for decades to strengthen MSMEs' resilience, and empower them for green, sustainable development.

Zhang Yi, deputy director general of China International Center for Economic and Technical Exchanges, highlighted that MSMEs possess strong innovation capabilities and flexibility to adapt to market demands and technological changes. This makes them particularly potent in advancing green development and growth.

The Chengdu High-tech Zone initiated the "MSME Pledge for the SDGs," calling on MSMEs around the world to use the SDGs as a compass for their long-term development and be an important force in building a fair, inclusive and sustainable future.