254.5 thousand new private enterprises have been set up in the first half of 2023 with a year-on-year increase of 25.4 percent, accounting for 93.9 percent of the number of newly-registered market entities in Henan, data unveiled by the province's administration for market regulation has shown.

It is worth noting that Henan's specialized and sophisticated enterprises that produce new and unique products have been developing rapidly. By the end of June, Henan has incubated 370 "little giant" companies mastering key technologies with strong innovation capacity, 2,762 provincial-level SMEs focusing on a market niche, and 10,040 innovation-oriented SMEs. Moreover, the innovative ability and professional competence of SMEs have been improving.