Fujian Province Confirmed 970 New Technology Little Giant Enterprises

Recently, by recommendation of different localities, Fujian Provincial Science and Technology Department, Fujian Provincial Development and Reform Commission and Fujian Provincial Department of Industry and Information Technology have jointly confirmed 970 technology little giant enterprises. The technology little giant enterprises being chosen show features such as high growth, strong innovation capability and high R&D investment.

The journalist learned from Fujian Provincial Center of Technology Innovation for Technology-based SMEs that through nurturing in the past two years, Fujian Province is now home to 2425 technology little giant enterprises with notable results being achieved. First, technology little giant enterprises have seen great progress in both revenues and profits with business revenues increasing by 32% year-on-year and net profits growing by 51.5%; second, enterprises' R&D investment remains high with steady increase in proportion of investment in R&D and the technology little giant enterprises' investment in R&D increased by 36.2%; third, technology little giant enterprises in the strategic emerging industry area, particularly in areas such as biology and new medicine, new materials, high-end equipment, and new energy, have seen two-digit growth in net profit margin, overtaking other industries. For instance, the average net profit of biology and new medicine enterprises grew by 143.2%, new material enterprises by 34%, and new energy enterprises by 31.7%. Fujian Province's technology little giant enterprises have gradually emerged as new forces driving economic growth at medium to high speed and medium to high end.