China's “Little Giants”: National-Level SMEs Driving Industrial Innovation
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China has cultivated over 17,600 national-level “little giant” SMEs, defined as small and medium-sized enterprises with technological sophistication, niche-market specialization, and advanced manufacturing capabilities, the Ministry of Industry and Information Technology (MIIT) reported on Nov. 12. While these firms account for only 3.5% of industrial SMEs above the designated size, they contribute 9.6% of total industrial revenue and 13.7% of total profits.
At the 2025 Specialized, Sophisticated, and Innovative (SSI) SME Development Conference in Chongqing, MIIT Minister Li Lecheng emphasized that China has also nurtured more than 600,000 scientific and innovative SMEs. The government is pursuing a multi-pronged strategy to support high-quality enterprise development:
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Strengthening innovation capacity: Expanding national-level innovation platforms and establishing SSI empowerment centers to connect innovation chains with industrial chains.
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Supporting industrial chains: Targeting cultivation of high-quality SMEs and high-tech firms to reinforce weak links in industrial chains, and building the core of “little giant” enterprises and manufacturing single champions.
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Optimizing business environment: Expanding national SME service networks, establishing overseas service channels, and enhancing targeted financial support to facilitate enterprise growth.
The conference also featured detailed discussions on local implementation in Chongqing, policy briefings, and experience-sharing sessions for enterprise development.
These measures are part of China’s broader plan to develop SMEs that specialize in sophisticated technologies and innovative products, a strategy highlighted in the recommendations for the 15th Five-Year Plan (2026–2030) for national economic and social development.
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