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Optics Valley firms get national recognition

Updated: 2020-12-31 Weibo Weixin Qzone Facebook Twitter More

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A photo showcases Optics Valley in Wuhan, capital city of Central China's Hubei province. [Photo/cjn.cn]

The Ministry of Industry and Information Technology recently announced the second group of 1,584 "little giant" enterprises and Central China's Hubei province had 42 enterprises on the list.

Among them, there are six enterprises resident in Optics Valley in Wuhan, capital city of Hubei.

The latest additions have taken the total number of little giant enterprises in Optics Valley -- also known as the East Lake High-tech Development Zone -- to eight.

The term little giant enterprises refer to outstanding high-tech small and medium-sized enterprises -- or SMEs -- with high growth potential, advanced technology and a strong market competitive edge.

The ministry is paying great attention to cultivating and supporting them. In 2018, it launched a special project with the aim of developing 600 little giant enterprises by the end of 2020 and the total number in the country rose to 2,000 this July.

To be named a little giant enterprise is the highest and most authoritative appellation there is for an SME in China.

The title is valid for three years and selected firms need to meet many special requirements -- such as economic efficiency, specialization, innovative ability, as well as having topflight operations and management.