Shenzhen, known as China’s tech and innovation hub, has once again demonstrated its prowess in fostering specialized and sophisticated “l(fā)ittle giant” enterprises.
According to the recently released list of the fifth batch of national-level “l(fā)ittle giant” firms, Shenzhen has seen an impressive addition of 310 new “l(fā)ittle giant” enterprises that use special and sophisticated technologies to produce novel and unique products, ranking first among municipalities with independent planning status in the country.
“Little giant” firms are leading small and medium enterprises that specialize in niche sectors and are focusing on next-generation information technology, high-end equipment manufacturing, new energy, new materials, biomedicine and other cutting-edge fields.
In 2022, 275 Shenzhen companies were registered as national-level “l(fā)ittle giant” enterprises, bringing the total count to 442, sznews.com reported. With the newly added 310 companies, the city now has a total of 752 “l(fā)ittle giant” firms, far ahead of the target of having 600 national-level “l(fā)ittle giant” companies by 2025.
In February 2023, the Ministry of Industry and Information Technology issued a notice to cultivate the fifth batch of “l(fā)ittle giant” enterprises in accordance with relevant policies. This batch includes 3,671 enterprises from across the country. Jiangsu, Guangdong and Zhejiang provinces ranked high on the list with 795, 658 and 384 firms, respectively.
Shenzhen is striving to achieve the target of having over 10,000 new specialized and sophisticated enterprises at the municipal level, and over 2,000 at the provincial level by 2025, according to the city’s service plan for specialized and sophisticated enterprises unveiled in 2021.