Yongkang, a county-level city in Jinhua, East China's Zhejiang province, has in recent years been implementing a series of measures to advance the high-quality development of its industrial economy.
Specifically, authorities have been channeling more resources towards cultivating industry-leading enterprises and encouraging them to work together to get listed, as well as rolling out favorable policies to bolster small and medium-sized enterprises that specialize in segmented fields.
The local government has established a complete service mechanism to help small and medium-sized enterprises undergo digital transformation, as well as set up a task force and unveiled policies to help enterprises above designated size improve management and strengthen competitiveness.
In 2022, Yongkang saw one additional company with annual sales of more than 2 billion yuan ($280.85 million), three companies with annual sales surpassing 1 billion yuan, two national "little giant" enterprises, 30 provincial "little giant" enterprises, and 80 provincial innovative SMEs, according to authorities.
Zhejiang Feijian Co, based in the city, is an industry-leading enterprise that manufactures sports bottles and pots. It is expected to generate an annual output of more than 800 million yuan.
The company has invested more money in the research and development of new products and will roll out more than 60 new products this year.
