(CFP Photo)

Jiangsu has 48 manufacturing companies enlisted in the country's latest batch of single-product champion enterprises released by the Ministry of Industry and Information Technology.

Jiangsu has the largest group of winners among provincial-level regions in China in the latest recognition, and accumulatively 186 companies honored at the state level.

For the winning companies, their annual R&D spending accounts for more than 5% of main business revenue, and more than 70% are specialized in the manufacturing of key basic materials, core components or special high-end products .

Jiangsu revised its SMEs promotion guideline in 2021 and made clear to support SMEs that feature specialization, refinement, uniqueness and innovation, helping them enhance competitiveness in niche sectors. This revision also provided more legal protection for the SMEs development.

In addition, Jiangsu has also gone all out to support the digital economy as a new driver and made it a priority to advance intelligent and digital transformation of SMEs. The province plans to complete the endeavor at industrial SMEs above designated size by the end of 2024.