'Little giants' to drive Shanghai innovation
By Zhang Yu (China Daily)
Updated: 2006-05-26 09:09
The Shanghai municipal government has outlined plans to support the city's
small, competitive high-tech companies, which it dubbed the "little giants," in
an attempt to enhance the city's technological competitiveness.
By 2010,
it hopes that 100 "little giants" can generate a total of 100 billion yuan
(US$12.5 billion) in annual sales revenues, according to Li Yiping, Director of
Shanghai Municipal Science and Technology Bureau.
The "little giants"
scheme is part of the city's overall scientific and technological blueprint for
the next 15 years.
The government will help the "little giants" with
concrete policies concerning finance, talents and services to reduce the cost of
starting an enterprise and conducting R&D.
"Small and medium-sized
enterprises are an important source of creative energy," Li said at a press
conference yesterday.
"Little giants" refer to small and medium-sized
enterprises that have great potential to develop themselves in the market, and
can concentrate on knowledge-intensive and high value-added industries like
information and biology.
According to Li, the "little giants" scheme
began to be formulated by the municipal government last September.
Li
estimated that the total funds for support would exceed l00 million yuan
(US$12.5 million) next year, rising from the present 90 million yuan (US$11.2
million).
"The increase in funds shows that the 'little giants' in
Shanghai have great potential," said Li. The project will improve Shanghai's
industrial structure and dramatically strengthen home-grown innovation capacity,
added Li.
Shanghai municipal government also outlined plans for
State-owned enterprises (SOEs).
The issue of how to stimulate the innovation
momentum of these SOEs, Li said, is the key to the newly-issued support
policies.
Unlike private and foreign enterprises, SOEs are under the
direct leadership of the Shanghai municipal government.
"We can
have direct communications with them, so we can give them some detailed and
strict requirements with local characteristics," said Li.
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