business

China’s SMEs report steady improvement in November

BEIJING, Dec. 13 (Xinhua) — China’s small and medium-sized enterprises (SMEs) have seen moderate recovery and improved vitality as the country continues its robust overall recovery, the latest industry data shows.

The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs, rose 0.1 points to 87.1 in November and hit a 10-month high, according to the China Association of Small and Medium Enterprises.

The index contains multiple sub-indexes to gauge the performances and expectations of SMEs. A reading below 100 indicates dented vitality.

In November, the operating cost, labor force and financing sentiment sub-indexes edged down, but remained above 100.

The survey also revealed increased confidence and improved market expectations among the firms, the association said, attributing the upbeat sentiment to the government’s supportive policies and the country’s consolidating of its economic foundation.

Sub-indexes gauging sentiment in different sectors continued to diverge. The accommodation and catering industry, which was hit particularly hard by the COVID-19 epidemic, reversed its downturn trend to bounce back, while the computer and software industry recorded a two-month contraction streak.

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