On May 29, the Shanxi Bureau of Small and Medium Enterprises approved a list of the first 1,008 target enterprises to become “little giants” in 2014 with support from the government.

The “little giants” refer to enterprises with an annual profits of over 100 million yuan. According to the plan, there will be 100 more “little giants” each year in Shanxi. During the 12th Five-Year Plan, the number of “little giants” is expected to increase by 500.

In 2014, 17 enterprises in Taiyuan, eight in Datong, six in Yangquan, 25 in Changzhi, 10 in Jincheng, eight in Shuozhou, 10 in Xinzhou, 13 in Jinzhong, 12 in Lvliang, 11 in Linfen and 10 in Yuncheng are the target enterprises to make more than 100 million yuan. In particular, the plan focuses on cultivating and supporting the micro, small and medium enterprises in emerging industries, including equipment manufacturing, light industry, farm and sideline products processing, pharmaceuticals, fine chemicals, intercomputer communication and other electronic equipment manufacturing.

The project of cultivating “little giant” enterprises is one of the major projects to support the micro, small and medium enterprises and stimulate the private economy in Shanxi province. According to the Bureau of Small and Medium Enterprises, all the target enterprises will be set by the end of 2014. Additionally, a workable plan should be laid down to lead structural adjustment, industrial upgrades and technological innovation in different enterprises. Government should also optimize management of micro, small and medium enterprises’ construction projects in order to maximize cost effectiveness.