Two enterprises in Baotou have recently received 5.32 million yuan ($788,237) in national-level little giant awards and subsidies.

Among them, Baotou North Entrepreneurship Co received 3.32 million yuan in awards and subsidies for the second time, and Inner Mongolia First Machinery Group Hongyuan Electric Co received about 2 million yuan. The funds will be mainly used to help the two little giant enterprises increase investment in innovation and accelerate the industrial application of technological achievements.

Little giant enterprises are pioneer enterprises focusing on market segmentation, strong innovation abilities, high market share, mastering key core technologies, and excellent quality and efficiency. From 2021 to 2025, the central government will select the best of the identified national-level little giant enterprises to provide awards and subsidies in batches so as to encourage these enterprises to play an exemplary role.

The above-mentioned funds have been allocated to the relevant counties and banners in Baotou. Through the guidance of central financial funds, Baotou will increase the number and quality of its little giant enterprises and improve the stability and competitiveness of their industrial and supply chains.