Despite relentless competition from larger companies, small and medium-sized enterprises (SMEs) have unique advantages that enable them to thrive and thus play a crucial role in China's economy.

In Shenzhen, south China's Guangdong Province, Photonic Crystal Technology Company, a small high-tech company has accessed the global market through its distinctive high-tech products ranging from transparent panel displays in shopping malls, subways and exhibitions, to at-home fitness equipment and cars, boasts a complete supply chain of transparent display under the brand nanoAR, with only around 50 employees.

"All great companies start small. We can see that the world's top 10 enterprises have been changing in the past two to three decades. High-tech companies are making up a larger proportion of the top 10 with innovation being fundamental to all of them," said Zheng Gang, co-founder and CEO of the company.

As a special economic zone, Shenzhen is one of the ideal places for private companies, especially small and medium ones, to run their businesses.

"The local government has offered a lot of support to early-stage start-ups, especially tech companies like us. For example, they would waive rental fees. Also, private companies are a dynamic part of Shenzhen's economy. There is an established ecosystem that makes it easy to find clients or partners," Zheng said.

As the head of overseas sales and marketing, Denny Yu says the job is quite easy as the company provides a unique product to the market.

"We have already had sales or to say POC (proof of concept) projects around the United States and also in Europe and also including Japan and South Asian countries," Yu said.

Even as a start-up, NanoAR is dedicated to education and public welfare. For example, they offered their AR product for free to local museums.

"For traditional displays, the cultural relics were just showcased in a static style, so it was not that lively in terms of information display of cultural relics. The AR display breathes new life into the cultural relics. Many children and adults really enjoy such new form of exhibition," said Li Baile, curator of Shenzhen Museum.