China has surpassed its 2025 goal of cultivating 10,000 small, privately-owned “little giant” firms, attaining a remarkable total of 14,600. This development reflects China’s efforts to enhance technological independence amidst US competition, with these firms playing a vital role in strategic sectors. The investment in research and development and the generation of patents highlight the growing innovative capabilities within these enterprises.
China has successfully fostered 14,600 small, privately-owned firms—termed “little giants”—exceeding its goal of 10,000 by 2025. This initiative aims to strengthen key strategic sectors and enhance domestic technological capabilities amid rising competition with the United States. The surge in these businesses signifies China’s commitment to innovation and self-sufficiency in technology, especially in light of trade restrictions from the US.
In the context of fierce technological rivalry with the United States, China has identified the cultivation of what it calls “little giant” firms as a critical component of its industrial strategy. These companies are tasked with advancing high-tech sectors, contributing to China’s overall economic resilience and technological autonomy. By investing in small and medium-sized enterprises, China aims to establish a robust supply chain domestically while reducing reliance on foreign products and technologies.
In conclusion, China’s initiative to promote “little giants” has proven successful, surpassing its targets and reflecting the country’s strategic focus on self-sufficiency and innovation in technology. This evolution not only demonstrates the resilience of China’s industrial framework but also reinforces its position as a formidable competitor in the global market.
Original Source: www.scmp.com
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