69 Ningbo companies listed as 'little giants'

A factory in Ningbo, East China, East China's Zhejiang province. [Photo/cnnb.com.cn]

Sixty-nine companies from Ningbo, East China's Zhejiang province were recently included in the fifth batch of "little giants" released by the Ministry of Industry and Information Technology (MIIT), bringing the total number of such enterprises in the city to 352.

"Little giants" refer to industry leaders that are deemed by the MIIT to have excellent innovation capabilities, large market shares, core technologies and high product quality and profitability.

In 2018, the MIIT launched a campaign to cultivate little giants. China will strive to cultivate 10,000 little giants before 2025, according to the ministry.

The 69 listed companies from Ningbo primarily operate in sectors such as new materials, key basic components, and high-end equipment.

On the provincial level, Zhejiang saw a total of 384 new little giants, while Jiangsu and Guangdong, two other economically powerful provinces in China, reported an increase of 795 and 658, respectively.

Ningbo has set a target to increase the number of little giants in the city to 1,000 by the end of 2025.