The number of enterprises in Beijing that use specialized and sophisticated technologies to produce novel and unique products has surged 14-fold to 8,754 over the past five years since the launch of a dedicated initiative in 2020.

The count of such companies at the national level in the city, also known as "little giants," has risen 20-fold from 53 to 1,035, keeping Beijing in the top spot for three consecutive years.

Jiang Guangzhi, head of the Beijing Municipal Bureau of Economy and Information Technology, provided these updates during a press conference on Thursday.

According to Jiang, nearly 80% of the 8,754 companies engage in cutting-edge sectors, and approximately 40% are actively exploring emerging fields like artificial intelligence, gene technology, and humanoid robotics.

Currently, more than half of Beijing's A-share listed companies, and nearly 60% of the city's newly listed companies last year, are part of the 8,754.

In addition, over 40% of the 8,754 companies have achieved a net profit growth rate exceeding 10%, more than 50% have been focused on their core products for over a decade, and over 60% have reported revenue growth rates above 10%.

Jiang said the city plans to establish more service stations for these enterprises and ramp up efforts in supporting their financing.