Companies Yatai Pump & Valve Co Ltd and Dongsheng Biotech (Taixing) Co Ltd, both located in Taixing city – administered by Taizhou in East China's Jiangsu province – recently received a total of 4.08 million yuan ($557,773) in central financial funds.
The grants come from a fund for the first and second batch of key "little giant" enterprises – the novel elites of SMEs that specialize in a niche market – for the second year.
Yatai and Dongsheng, situated in the Taixing High-tech Zone and the Taixing Huangqiao Economic Development Zone, respectively, will obtain financing of 2.04 million yuan each.
In recent years, the city has organized regular policy lectures and guidance on applications for local enterprises and set up a policy column on the city's online service platform, to actively create a competitive atmosphere to pave the way for more little giants.
Taixing has also leveraged the leading role of little giant enterprises to promote replicable models and drive the development of other businesses.
The development of supply chain clustering there is also being highlighted, to promote the sharing of manufacturing resources.
Little giant companies in the Taixing High-tech Zone – such as Yatai Pump & Valve Co Ltd – have cooperated with universities and institutes.
They've formed a complete industrial supply chain and created a provincial-level industrial cluster for specialized equipment for ship water treatment.