-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Health
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Newsmaker
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Qianhai
-
Advertorial
-
CHTF Special
-
Futian Today
在线翻译:
szdaily -> Business -> 
‘Little giant’ firms mirror growing manufacturing strength
    2022-02-22  08:53    Shenzhen Daily

A LEGION of small but specialized enterprises in China has sprung up with greater visibility for their increasingly important role in cementing the country’s industrial strength.

These enterprises, dubbed “little giants,” represent the novel elites of China’s small and medium-sized enterprises (SMEs) that are engaged in manufacturing, specialize in a niche market and boast cutting-edge technologies.

“Amid the impact of the pandemic, these small, specialized and innovative firms are becoming forceful propellers for the stable development of the Chinese economy,” said Liu Xiangdong, a researcher with the China Center for International Economic Exchanges.

For instance, KOFON Motion Group, a “little giant” firm based in Hubei Province, has gained popularity for making a crayfish peeling machine, the first of its kind around the world and specially designed to meet the local’s appetite for crayfish.

The machine, costing 3 million yuan (US$473,000) each, can process about 1,000 crayfish per minute, generating a daily workload that takes 50 people to complete.

It had brought the company over 150 orders by late November last year, making its plant floor fairly busy.

Another flagship product that enhanced the company’s industrial presence is its proprietary planetary gear reducer, a key component of robotic machines.

Up to now, the company manufactured over 85 percent of China’s gear reducers used in push benches in the construction of underground pipeline corridors, and more than 80 percent of the gear reducers used in ETC railings at high-way tollgates.

“Little giant” firms like KOFON are becoming an increasingly important component of innovation in China, official data showed.

According to the Ministry of Industry and Information Technology, in the first nine months of last year, the operating incomes and total profits of “little giant” firms increased 31.6 percent and 67.9 percent, respectively. So far, the country has cultivated 4,762 national-level “little giant” firms.

“If you look into the industrial chain, you’ll find countless dynamic small players in it,” said Xu Xiaolan, the vice minister of industry and information technology. He added that China’s industrial chain had withstood the impact of the pandemic largely due to the depth and breadth of the industrial layout of small and medium-sized enterprises.

(Xinhua)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010-2020, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@126.com