Beijing has added 12 more enterprises to its "hidden champion" list, focusing on smart equipment, rail transit facilities, new-generation IT, software and information services, AI, and new materials.

The companies are all small and unknown to the broader public but highly successful in their respective fields, demonstrating substantial growth momentum. Their main business revenue reached 3.12 billion yuan ($450 million) in 2021 and registered an average compound growth rate of 27.96% for three consecutive years.

Statistics from local authorities also reveal their innovation capacity. According to the Beijing Municipal Bureau of Economy and Information Technology, the average R&D spending intensity of these 12 companies reached 18.97% in the past two years. Their average R&D spending hit 503 million yuan in 2021, and about 43.06% of their employees are R&D staff.

In addition, these companies possess a total of 3,403 valid invention patents, an average of approximately 284 R&D patents per 1,000 employees.

To further boost the development of "hidden champion" enterprises across the city, Beijing plans to roll out policies to address companies' talent needs. It will work to improve the development, utilization and incentive mechanisms for R&D personnel and enhance their right to benefit from sci-tech innovation.

The city has formulated a comprehensive talent support system, which includes attracting professionals, encouraging overseas Chinese students to settle in Beijing, and issuing work and resident permits for related staff. To date, the system has helped connect 44 employees with 14 "hidden champion" businesses.

Beijing will also provide customized, one-on-one services for its "hidden champion" enterprises and further make coordinated efforts to address their urgent needs.