These companies operate in strategically important areas such as semiconductors, manufacturing, energy, and minerals.
The Chinese government has selected 8,997 little-known industrial enterprises that will enjoy preferential treatment from central and provincial governments as the country prepares to supersede the technological prowess of the U.S.,The term "little giants" is being used for less-known companies that have technological know-how in strategically important areas.
can also be included in the list, alongside those who are capable of "fixing weaknesses" of the domestic supply chain, the SCMP cited information from the Ministry of Industry and Information Technology 's application form for the designation. The recent list was unveiled at the national summit of little giants that was held last week in Nanjiang in the eastern Jiangsu province in China.China's escalating tech war with the U.S. reached another low point when the U.S. banned chip exports to the Asian nation recently. However, China has been working to supersede the U.S. for a significant period of time now.
The recently announced little giants list is the fourth such listing since 2019. The country had set itself a target to have 10,000 such companies engaged in "specialized and sophisticated enterprises" and set aside 10 billion yuan to support 1,000 little giants between 2021 and 2025.In a little over three years, the government seems to have achieved 90 percent of the target it had set for itself.
On its part, the government has vowed to accelerate "institutional support to encourage innovation, financing, and promotion", the
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Being The Elite Goes on Hiatus Amidst AEW's CM Punk DramaBeing The Elite will stop producing new episodes until further notice. The Chadster wishes they would go further and cancel AEW, delivering ultimate justice to The Chadster's beloved WWE. BTE AEW StandUpForWWE MindysBakery TheChadster
Read more »
SDSU Police Chief retires amidst school's alleged rape scandal -SAN DIEGO (KUSI) – There’s been a change of leadership at the San Diego State University police department: SDSU police chief Mike Hastings made the decision to retire from his role in order to spend more time with family. The change comes at the same time that university administration wrestles with criticism about the handling of an alleged off-campus rape...
Read more »
China oil demand may shrink first time since 2002 as covid curbs biteOil demand in China, the world's biggest energy consumer, could contract for the first time in two decades this year as Beijing's zero-COVID policy ke
Read more »
U.S. plans new curbs on exports of chips, chip-making tools to China: reportThe Biden administration plans to expand export restrictions for U.S. chip companies to China, according to a new report.
Read more »
Prada and Panerai Cut Ties With China Ambassador Li Yifeng Over Prostitute VisitsThe popular actor and the face of Remy Martin, L'Oréal Paris, Asics and Budweiser was detained by the Beijing authorities on Sunday for repeatedly visiting prostitutes.
Read more »
SL Green takes control of Park Ave. office tower from bankrupt China firmPressing its campaign to establish a formidable East Midtown core, SL Green added another trophy to its burgeoning portfolio.
Read more »