NETDA speeds up development of little giants

In a bid to promote the transformation and upgrading of its industrial structure, the Nantong Economic & Technological Development Area or NETDA – located in Nantong city in East China's Jiangsu province – has accelerated the attraction and development of so-called little giants, according to local media reports on Oct 29.

According to the Ministry of Industry and Information Technology, the term little giant companies refers to leading small and medium-sized enterprises – or SMEs – featuring "specialization, refinement, characteristics and origins". 

Taking ZTT Fiber Optic Co Ltd as an example, the resident company owns a number of scientific research institutions, such as an optical fiber technology research center and the Zhejiang University and ZTT joint laboratory.

Since 2019, the NETDA has repeatedly organized for industry experts to guide the development of the company's chemicals plant and they have provided a series of recommendations. As a result, after only two years or so of development, the company was rated as a provincial industrial internet benchmark plant.

Local officials said that from May, newly approved little giant companies would enjoy preferential policies and financial incentives issued by the NETDA and be awarded grants of 100,000 yuan ($15,483) each.