China's SMEs report improved performance in Q3

0 Comment(s)Print E-mail Xinhua, October 11, 2023
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A vendor arranges seafood at the Fushansuo Market in Shinan District of Qingdao, east China's Shandong Province, Aug. 7, 2023. [Photo/Xinhua]

China's small and medium-sized enterprises (SMEs) recorded an increase in their activities in the third quarter (Q3) of this year, industrial data showed Tuesday.

The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs from eight major industries, came in at 89.2 in Q3, edging up 0.2 from Q2, the China Association of Small and Medium Enterprises said in a report.

The sub-indices for all eight major sectors remained lower than the boom-and-bust line of 100, but the transportation, postal and storage industry, the information transmission, computer service and software industry, and the accommodation and catering industry reversed the downward trend.

The association said that the Q3 data showed increasing positives, but the foundation of recovery remained unstable.

It called for greater efforts in macroeconomic adjustment and control as well as countercyclical regulation to achieve solid economic growth.

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