The list of Guangzhou's first 38 hidden champions has been released, of which 16 are in Huangpu district.
The term "hidden champions" was coined by German author and businessperson Hermann Simon to describe relatively small but highly successful companies that are concealed behind a curtain of inconspicuousness, invisibility, and sometimes secrecy.
A seminar gets underway on the innovative development of Guangzhou's hidden champions.
The Association of Promotion for Guangzhou Industrial Merchants Investment was entrusted by the Guangzhou municipal science and technology bureau to select local hidden champions after more than one year of field investigations and analysis.
The 38 entries all have a leading place in the market and high operating revenue. However, they are not well known to the public. Of them, four enterprises rank first in the world by the market share of their leading products, 14 rank among the world's top 10, and 23 rank first in China.
The annual R&D expenditure of the 38 enterprises averaged 213.2 million yuan ($33 million) over the past three years, accounting for 14 percent of their operating revenue.