An activity guiding the application for national-level "little giant" enterprises with high growth potential, advanced technology and strong market competitive edge was held in Hunan Xiangjiang New Area in Changsha on March 6. Changsha cultivated 74 new national-level "little giant" firms in 2022, bringing the total number of such firms to 141, ranking 4th among provincial capitals. Next, Changsha will continue to focus on 22 industrial chains and carry out the gradient cultivation of high-quality SMEs. The city will strive to ensure the number of specialized and sophisticated SMEs tops 1,000, and the number of "little giant" firms exceeds 300 during the 14th Five-Year Plan (2021-2025) period.

"Little giant" firms are elites of SMEs and fresh troops strengthening and supplementing the industry chain. The identification of such firms recently ushered in a big change. Provinces and cities will no longer identify their own "little giant" enterprises. In June 2022, the Ministry of Industry and Information Technology issued the Interim Measures for the Management of the Gradient Cultivation of High-quality SMEs. It pointed out that the three categories of SMEs, namely innovative SMEs, specialized and sophisticated SMEs, and "little giant" firms should be cultivated in a gradient manner, so as to connect their growth paths. With cultivation services and guidance, these SMEs will be led to follow a path towards high-quality development.

"In terms of cultivating 'little giant' enterprises, Changsha has embarked on a path of innovative development, with several important indicators at the national forefront," said Tan Wenchang, second-level inspector of the Changsha Municipal  Bureau of Industry and Information. In recent years, Changsha has focused on guiding and fostering SMEs, and solving problems for them. High-level talents are introduced to ensure the talent supply of SMEs. Favorable financial support is provided to SMEs to help them address survival and development problems. A series of public welfare activities are organized to support the development of SMEs.

Source: en.changsha.gov.cn