Development index of China's SMEs picks up in Q4 2024

BEIJING - China's small and medium-sized enterprises (SMEs) saw improved business performances between October and December 2024, according to a report from the China Association of Small and Medium Enterprises released on Sunday.

The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs across eight major industries, stood at 89.0 in the fourth quarter of last year, 0.1 points higher than in the third quarter.

The index also contains multiple sub-indexes to gauge the performances and expectations of SMEs.

The sub-indexes for industrial production, construction and transportation all showed improvement, while the sub-index measuring SMEs' confidence in the macroeconomy remained stable compared to the third quarter, according to the report.

China's SMEs saw a gradual improvement in both confidence and market demand, leading to a surge in development vitality, according to the association.

It emphasized the importance of expanding demand and boosting consumption in future efforts, while also calling for creating more opportunities and room for the development of SMEs.