This study investigates the critical financial factors that drive the growth of SMEs in China, focusing on private enterprises. The research explores how access to government financial assistance, investment in financial technologies, and financial risk appetite influence the business growth of these entities. Drawing on a comprehensive analysis of SMEs' financial behaviors and growth trajectories, the study examines the extent to which these independent variables contribute to the scalability and sustainability of private enterprises in a rapidly evolving economic environment. The findings reveal that while government financial support can provide a crucial foundation for growth, investment in financial technologies and a calculated financial risk appetite are equally vital in fostering resilience and innovation among Chinese SMEs. The implications of this research are significant for policymakers and business leaders aiming to enhance the competitive advantage of SMEs in China's dynamic market landscape.