WND home to 202 specialized, sophisticated SMEs

Wuxi National Hi-tech District has been working to promote the high-quality development of small- and medium-sized enterprises in recent years.

WND is currently home to one national single-product champion enterprise, 19 national "little giants", and 59 provincial and 123 municipal specialized and sophisticated small- and medium-sized enterprises that produce new and unique products. The overall amount ranks first among all districts in Wuxi.

Recognized specialized and sophisticated SMEs above the municipal level are working in intelligent equipment (33 percent), integrated circuits (16 percent), IoT digital (11 percent), new materials (10 percent), new energy (9 percent), biopharmaceuticals (8 percent), auto parts (7 percent), and high-end software digital creativity (6 percent).

From January to August this year, 19 national-level "little giants" achieved a revenue of 8.69 billion yuan, a year-on-year increase of 33 percent. Their profits increased by 40 percent yearly to 1.34 billion yuan, and their development has driven private enterprises above designated size to achieve an output value of 123 billion yuan, a year-on-year increase of 24 percent.

To be called a "little giant", a Chinese company must have a minimum 5 percent year-on-year average growth rate in its main business income or net profits in the past two years.

According to officials, the development of specialized and sophisticated small- and medium-sized enterprises that produce new and unique products is of great significance to the industrial development of Wuxi.