CCTV News: Data released by the State Administration of Taxation recently showed that in 2024, the sales revenue of my country's specialized and new "little giant" enterprises was 2.1 percentage points higher than the national average. Among them, the sales revenue of the manufacturing "little giant" enterprises increased by 3.2% year-on-year. How to observe this new set of data? What new breakthroughs have specialized and specialized "little giant" companies achieved in their growth?

Financial commentator Yang Fujiang said that the development pattern of "little giant" enterprises in the manufacturing industry shows new impetus for my country's economic transformation. The "little giant" enterprises in the manufacturing industry refer to those small and medium-sized enterprises with a high share of the manufacturing industry, strong innovation ability and good growth potential.

From the perspective of industrial ecology, the pattern of "head concentration + long tail segmentation" has been initially formed. Among the "little giants" companies in the manufacturing industry, there are both leading companies that occupy the core links of the industrial chain, and hidden champions who have been deeply involved in subdivided fields. This gradient development model not only ensures industrial stability, but also stimulates innovation vitality. It is particularly worth noting that the outstanding performance of the advanced manufacturing industry, and the industrial system with the digital economy as the core is becoming a new engine of economic growth, which is in an effective response to the construction of the "intelligent manufacturing demonstration factory" proposed in the "14th Five-Year Plan".

From the segmented data, the sales revenue of the "little giant" enterprises in the manufacturing industry increased by 3.2% year-on-year, and the sales revenue of the "little giant" enterprises in the digital economy industry and the high-tech industry increased by 9.4% and 9.6% respectively, significantly higher than that of the traditional manufacturing industry. Behind this difference is the opportunities brought by global supply chain reconstruction, and it also reflects my country's breakthrough progress in the field of high-end manufacturing.

While maintaining its scale advantage, "little giant" enterprises in the manufacturing industry need to improve total factor productivity. This is a key breakthrough for China's manufacturing to leap to the mid-to-high-end global value chain in the next 10 years. "Bringing the chain to lead the surface" promotes the steady and long-term development of "little giants" enterprises

Data shows that from the perspective of innovation capabilities, the average R&D investment of specialized and new "little giants" enterprises accounts for 7% of their operating income, and it is still growing. In the future, how can specialized and innovative "little giant" companies continue to improve their core competitiveness? How to continue to empower? Wei Xiang, professor at the Institute of Finance and Economics Strategy, Chinese Academy of Social Sciences, said that R&D is very critical and very important, but after R&D, we must also "take the chain to lead the surface". For example, the management departments affiliated with some relevant administrative departments should assume more responsibility as a "chain leader", and should be more patient in future governance and future services.

Promoting the continuous improvement of competitiveness of "little giant" enterprises requires not only increasing R&D investment, but also building a system project for "little giant" to evolve into "big giant".

First, form system competitiveness around the industrial chain and value chain. Relevant departments will be "chain length", optimize factor endowment and factor structure, coordinate the unified national market, and promote the strategic hidden champion core "little giant" who can solve the "bottleneck" problem to become the "chain owner" of the value chain. The second is to match the industrial base with China's advantages with the specialty and new and special essence of "little giants", and strengthen the special services of basic research, public services and supermarkets for "little giants". The third is to strengthen the dual role of "patience capital" and "patience governance" on the two ports of capital investment and government services. The importance and prominentness of "little giants" are often reflected in the "invisible" characteristics of their "hidden champions", that is, many "little giants" are in the middle and upper reaches of the industrial chain, and are suppliers of important intermediate and core basic products. Their products are not seen by users in the final products. This requires investors to invest in institutions to identify, support and help the sustainable development of "little giants" with longer vision and longer patience.