Guangdong sets guideline for innovative SMEs

Guangdong is formulating a guideline on high-quality development of specialized and sophisticated small and medium-sized enterprises (SMEs) that produce novel and unique products.

The guideline will enhance synergy among policies on fiscal support, taxation, financial service, innovation, talent and land use, among others, for said enterprises, said Jiang Zhenmei, an official of the provincial department of industry and information technology.

Among the 40,000 innovation-oriented SMEs in Guangdong, more than 18,000 are designated as specialized and sophisticated SMEs that produce novel and unique products. More than 1,500 of them are designated as "little giant" firms.

Guangdong accommodates the largest number of "little giants" among the provinces.

Sowotech Group, which is a "little giant" producing advanced equipment for electronic manufacturers, spent 10 percent of its revenue on research and development between 2020 and 2022, said Xiao Jitang, an executive of the group.

In Amicro Semiconductor Co, another "little giant" which focuses on robotics and large-scale high-integration digital-analog hybrid chip design, over 80 percent of its 300-plus staffers are engaged in the research, said Li Boxun, an executive of the company.