Seven companies in Lixia district, Jinan were included in the 2020 list of Shandong provincial gazelle enterprises, local media reported.

A gazelle company is a high-tech company founded less than 10 years ago which has seen at least a 20 percent increase in revenue each year over the past four years, or earned revenue of at least 50 million yuan ($7.46 million) in the previous year.

In recent years, Lixia district has made more efforts to cultivate a batch of fasting-growing companies focusing on high-end technologies, high efficiency and strong innovation ability. The newly-recognized provincial gazelle enterprise will be given a bonus award of 300,000 yuan to further strengthen support for high-growth enterprises.

To date, Lixia is home to nine provincial gazelle enterprises.