China has named nearly 9,000 ‘little giants’ in push to preference home-grown technologies
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.
Read More at https://www.scmp.com/tech/policy/article/3191908/china-has-named-nearly-9000-little-giants-push-preference-home-grown