Guangzhou's Huangpu district took the lead in the country to release dedicated policies for specialized, elaborative, characteristic, and innovative enterprises on Aug 27, offering comprehensive support in their settlement, R&D and innovation.

Also known as "little giants," the specialized, elaborative, characteristic, and innovative enterprises refer to those small and medium-sized enterprises that own core technologies, and have strong innovation capabilities, large market shares, and high profitability.

Huangpu will offer a one-time reward of 2 million yuan ($309,200) to newly settled national "little giant" enterprises. A maximum subsidy of 2 million yuan will be granted to expansion projects of local "little giant" enterprises. Major industrial projects of national "little giant" enterprises will receive a reward of up to 100 million yuan based on their fix-asset investment.

Specialized, elaborative, characteristic, and innovative enterprises at provincial and national levels will be granted a subsidy of 500,000 yuan and 2 million respectively. "Champion" enterprises of the national manufacturing industry in specific areas of expertise will receive 5 million yuan.

Specialized, elaborative, characteristic, and innovative enterprises will be prioritized by Huangpu in terms of loan amounts and listing cultivation. Those succeeding in going public will receive a total reward of 8 million yuan.

Five select industrial parks for specialized, elaborative, characteristic, and innovative enterprises will be subsidized 50 percent of their operation fees, and the maximum amount for a single operator is 2 million yuan. In-house enterprises will be subsidized 50 percent of rent for office and workshops at a maximum amount of 1 million yuan.