At the 2023 National Development Conference of “Specialized and New” SMEs, an official from the Ministry of Industry and Information Technology announced that China has 98,000 “Specialized and New” SMEs, including 12,000 “Little Giant” enterprises (Specialization, precision, specialization, and novelty,専精特新（専門化・精密化・特徴化・新規性)
According to data, in the past few years, such “patent innovation” giants have established more than 10,000 national and provincial R&D institutions, and the number of invention patents granted has exceeded 200,000 in total. These “specialty new” small and medium-sized enterprises have become the “boosters” of high-quality development. According to the Ministry’s survey data, from January to May this year, the operating profit margin of “patent innovation” small and medium-sized enterprises was 9.9%, 4.7 percentage points higher than that of the nation’s industrial enterprises above a certain size (those with annual sales of 20 million yuan or more). The operating profit margin for the small and medium-sized “patent innovation” enterprises was 7.1%, also 1.9 percentage points higher than the national average.