Tax Data: High-quality development of Specialized SMEs in 2024

The sales revenue growth rate of “Little Giant” was 2.1 percentage points higher than the national average in 2024, according to the latest data from the State Taxation Administration.

“Little giant” firms represent elites of small and medium-sized enterprises(SMEs) specializing in niche markets, with cutting-edge technologies with great potential. They are playing a vital role in promoting new industrialization and developing new quality productive forces in China.

In 2024, “little giant” firms in private sectors accounted for 88.8% of all private SEMs and 85.4% of the total sales revenue. The little giants in the digital economy sector grew by 9.4% in sales revenue.

Little Giants’ export revenue increased by 12.1% in 2024. In terms of export products, the export value of integrated circuits and medical instruments rose by more than 25%, while motor vehicles and spare parts exporting went up by over 11%. For the export markets, these little giants exported more to the ASEAN, the EU, and the United States, especially, a frog leap of 30.3% to the ASEAN. They demonstrated in part strong resilient and vital foreign trade in China.