Recently, the Industry and Information Technology Department of Jiangsu announced the seventh group of specialized, refined, distinctive, and innovative "little giant" enterprises.
Xinghua in Jiangsu province has five enterprises — Jiangsu Hongze Stainless Steel Wire Rope Co Ltd, Jiangsu Suolong Fire Science and Technology Co Ltd, Xinghua GL Stevia Co Ltd, Jiangsu Jiajie Fasteners Co Ltd, and Poly Orica (Jiangsu) Mining Machinery Co Ltd — included on the list, bringing the total number of national "little giant" enterprises in the city to 22.
"Little giant" enterprises are industrial SMEs (small and medium-sized enterprises) that boast a strong focus on their core business, exhibit high competitiveness, and demonstrate excellent growth potential in niche markets.
National "little giant" enterprises are selected from among those already recognized by the Ministry of Industry and Information Technology of China. They must meet stringent criteria, including having their main business income account for over 70 percent of their total revenue, producing key products that address critical shortages, achieving breakthroughs in core technologies or filling domestic or international gaps, and allocating over 4 percent of their revenue to R&D.