On May 17, 2022, the Ministry of Industry and Information Technology of the People's Republic of China released the list of the third batch of nation-level "little giant" enterprises recommended to support in the first year. Qingdao Vland Biotech Group Co., Ltd., a subsidiary of Qingdao Vland Biotech Inc. was on the list.
In January 2021, the Ministry of Finance and the Ministry of Industry and Information Technology jointly issued the "Notice on Supporting the High-Quality Development of Specialized, Fined, Peculiar and Innovative Small and Medium-Sized Enterprises". In accordance with the Notice, the central government will grant a total of RMB10bn to more than 1,000 nation-level "little giant" enterprises to support their high-quality growth and finally to lead the industrial development. The fund will be granted to three batch of enterprises during 2021-2025, and the support will last for no more than three years for each batch.
The enterprises on the list launched this time are key ones selected from all the "little giant" enterprises of the third batch. This selection aims to accelerate the cultivation of specialized, fined, peculiar and innovative "little giant" enterprises with the help of financial support from the central government, so as to make the real economy better and stronger, and to improve the stability and competitiveness of the industrial chain and supply chain.