Recently, the Ministry of Industry and Information Technology announced the third batch of specialized and special new “Little Giant” enterprises, and a total of 32 enterprises in Hangzhou among 2930 companies across the country were selected on the list. To date, Hangzhou possesses 53 “Little Giant” enterprises in total, ranking at the forefront in total number in the province. These enterprises are all pacesetter companies which focus on segment markets and are featured by strong innovation ability, high market share, key core technologies and good quality and economic returns. Innovation is their soul. In the past couple of years, the R&D expenditure of the city’s 53 “Little Giant” enterprises accounted for an average of 12.27% of their operating income!