Shenzhen has emerged as a powerhouse for sophisticated and specialized enterprises, housing 752 of the 1,525 national-level little giants in Guangdong Province, according to PwC’S survey report on little giants’ growth trends which was released on Jan. 19.

The data showed that Shenzhen is at the forefront in Guangdong in this regard and tightly follows Beijing among Chinese cities.

The enterprises operating in Guangdong predominantly focus on new-generation informational technology, high-end equipment intelligent manufacturing, new materials, as well as energy-saving and new energy vehicles, all together attracting investments exceeding 100 billion yuan (US$13.9 billion) over the past two years.

Shenzhen’s small and medium-sized enterprises show remarkable vigor, with a growing number of little giants established in Shenzhen. As a result, the city's private sector economy has also taken the lead nationwide. According to the report, Nanshan and Bao’an districts each house 436 sophisticated and specialized firms, accounting 59% of the city's total, while Longhua, Longgang, and Guangming each hosts over 50 little giants.

A scene at GS Park in Guanlan, Longhua District. Wang Haolan

The report showed that the average age of Shenzhen's little giants stands at 14.4 years, reflecting a youthful and dynamic landscape. In July 2023, Shenzhen saw 310 more little giants, including 134 engaged in computer, communication, and electronics manufacturing. These enterprises demonstrated their commitment to innovation by submitting 152 patent applications and securing 6.5 patents under Patent Cooperation Treaty agreements.

Investors have focused on semiconductor and new-energy vehicle-related little giants. A total of 109 little giants in Shenzhen have been listed, with 30 on China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board."