China has named nearly 9,000 ‘little giants’ in push to preference home-grown technologies from smaller companies

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China has named nearly 9,000 ‘little giants’ in push to preference home-grown technologies from smaller companies​

• Beijing has named 8,997 industrial enterprises as ‘little giants’, about 90 per cent of its goal to have 10,000 such companies by 2025
• Designated small and medium-sized companies are eligible for preferential treatment as long as they show strength in strategically important areas

Little giants are smaller and often little-known businesses that have special products and know-how in strategic sectors like semiconductors, advanced manufacturing, energy and critical minerals. Photo: Shutterstock

The Chinese government has selected 8,997 industrial enterprises as “little giants”, which are eligible for preferential treatment to help the country become a stronger technological powerhouse in its competition with the US.
The data was disclosed during a national summit of little giants that kicked off on Thursday in Nanjing, capital of eastern Jiangsu province. President Xi Jinping said in a letter that he hopes such enterprises will “play a more important role in stabilising supply chains and promoting economic and social development”.
The summit also revealed that such companies made an average profit of 40 million yuan in 2021, more than three times the figure of small and medium-sized enterprises with annual revenue of at least 20 million yuan.

China has named 9,000 ‘little giants’ in strategic technology push

Beijing has named 8,997 industrial enterprises as ‘little giants’, about 90 per cent of its goal to have 10,000 such companies by 2025.

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