By Li Panpan

(JW Insights) Sep 4 -- China has nurtured 12,000 “Little Giants” companies, and their electricity consumption in July reached double-digit growth, said Xu Xiaolan, Vice Minister of the Ministry of Industry and Information Technology, at a press conference on September 4.

“Little Giants” is a recent year initiative by China’s MIIT to identify small and medium companies (SMEs) that not only specialize in pioneering core sci-tech innovation, but also command relatively high market share and huge development potential, reported China Daily.

China has nurtured 215,000 innovative small and medium-sized enterprises, including 12,000 little giants and 98,000 specialized enterprises, among which 95% are privately owned, said Xu.

From January to July, the profit margins of "Little Giants" and specialized small and medium-sized enterprises were 5.5 and 2.7 percentage points higher than regular companies.

As of the end of July, more than 1,600 specialized and innovative small and medium-sized enterprises have been listed on the A-share market, accounting for more than 30% of the A-share listed companies.

Among the newly listed A-share companies from January to July, 60% were those small and medium-sized enterprises, demonstrating the resilience and vitality of their development, said Xu.