The sector registered an increase in the Chinese index that measures the development of organizations; went from 88.4 to 89.2
China's SMEs (small and medium enterprises) recorded an increase in their activities in 2023. The Small and Medium Enterprise Development Index, based on a survey of 3,000 SMEs from 8 major industries, stood at 89.2 in 2023, up from 88.4 in 2022. The announcement was made by the Chinese Association of Small and Medium Enterprises in a report released on Wednesday (10.Jan.2024).
The index contains multiple sub-indices to assess the performances and expectations of SMEs. A reading above 100 reflects an upward trend in business, while one below 100 indicates weakening vitality.
The document attributes the result to growth in consumption, investment in fixed assets and the development of the high-technology industry.
The accommodation and catering sub-index rose 1.6 points in 2023, the construction index rose 1.3 points and the information transmission, IT services and software index rose 1.1 points.
The data reflects the improvement in companies' confidence and their performance, according to the report.
With information from Xinhua Agency.
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