“Strengthening independent innovation is the key to our leap from catching up to leading the pack,“ said Yang Zhentao, chairman of Ounaite Cable. He noted that the company's annual production of PV cables currently reaches 120,000 kilometers — enough to circle the Earth three times.

　　The company has maintained stable expansion in 2025 with orders increasing by 45 percent year-on-year in the first five months, Yang said, adding that it aims for an output value of 20 billion yuan ($2.8 billion) by next year, as a new investment project worth 100 million yuan commenced construction in June.

　　Ounaite Cable's growth from a micro firm to a national high-tech enterprise and a member of China's “little giants“ is not an isolated case. “Little giant“ firms represent the novel elites of small and medium-sized enterprises that specialize in a niche market, boast cutting-edge technologies and show great potential.

　　Hainan Huayan Collagen Technology Co Ltd, another national high-tech enterprise, which is based in South China's Hainan province, has successfully developed a new fish collagen peptide product, filling a void in the global market for cyclic dipeptide products made from fish.

　　This outcome was achieved after a research team had spent over two years conducting nearly 3,000 experiments, said Zhao Zifang, manager of the company's research and development center.

　　The company has put two production lines into operation, resulting in an annual output of 4,500 metric tons of fish collagen peptides — and these products have been exported to more than 50 countries and regions.

　　The rise of innovation-driven private companies is injecting new vitality into the economy.

　　The State Administration for Market Regulation said that the number of private enterprises in China had exceeded 57 million by the end of March — accounting for 92.3 percent of all businesses nationwide.