On Sept 2, the Ministry of Industry and Information Technology of China announced the 2024 list of specialized and sophisticated "little giant" enterprises. Six companies from North China's Inner Mongolia autonomous region were selected, three of which hail from Baotou city.

Specialized and sophisticated "little giant" enterprises are small enterprises with strong market performance, high growth potential, and strategic value in niche markets. These companies are characterized by their focus on specialized sectors, strong innovation capabilities, high market share, and mastery of core technologies.

The three Baotou companies named this year are Baotou City Sunlux Rare Metal Materials Co, Baotou Xijun Rare Earth Co, and Inner Mongolia ZTHY Rare Earth New Materials Co. This brings Baotou's total number of national-level specialized and sophisticated "little giant" enterprises to 12, the highest in Inner Mongolia.

Baotou-based Skyrock Rare Earth New Materials Co and First Machinery Group Ruite Precision Tool and Die Co received a combined 12 million yuan ($1.69 million) in national support funding as part of the first batch of specialized and sophisticated "little giant" enterprises.

Baotou plans to cultivate more innovative small and medium-sized enterprises (SMEs) to secure future placements on the national "little giant" list and enhance the city's quality of enterprise development.