Financial support for small and medium-sized enterprises that are niche-sector leaders with high market share and strong innovation capacity is expected to top 150 million yuan ($21.9 million) in the Nansha district of Guangzhou, Guangdong province, this year.

SMEs are entitled to support if they met national or provincial-level criteria for the first time last year, if they were reassessed last year as meeting the criteria in a three-year cycle or if they made milestone breakthroughs in revenue or output.

A total of 762 SMEs are classified as niche-sector leaders with high market share and strong innovation capacity at various levels in Nansha, according to Zhang Weiyuan, deputy director of the district's industry and information technology bureau.

Among them, five are national-level "little giant" companies, a reference to those specializing in niche industries with cutting-edge technologies and strong growth potential.

Last year, the district implemented measures for supporting niche SMEs in aspects such as innovation, marketing and digital empowerment.