China's SME Development Index Sees Increment in January 2024
Data shows a slight rise in the SME development index, reflecting growth in various sectors across the country.
The development index for small and medium-sized enterprises (SMEs) in China registered a marginal increase in January 2024, according to data disclosed by the China Association of Small and Medium Enterprises (CASME) on Tuesday.
The index rose by 0.1 points to reach a value of 89.0, compared to December 2023.
CASME reported that six out of eight sub-indices demonstrated growth during January.
Notable improvements were observed in key areas such as market conditions, labor availability, and investment activities.
Examining sector-specific performance, the sub-indices for various industries experienced increases: the industrial sector saw an uptick of 0.1 points, while the transport sector rose by 0.4 points.
The real estate sector improved by 0.2 points, and the wholesale and retail sales sector also experienced a gain of 0.2 points.
The social service sector recorded a notable increase of 0.5 points, and the information transmission and software sectors advanced by 0.3 points.
From a regional perspective, the sub-indices varied with the eastern region achieving a score of 89.7, up 0.1 points.
The western region climbed to 88.1, marking an increase of 0.3 points, whereas the northeastern region also recorded growth, reaching 81.0 with a 0.3 point rise.
The central region maintained a stable score of 89.9, unchanged from the previous month.
In China’s economic landscape, SMEs play a crucial role, comprising more than 90 percent of private enterprises and employing a substantial portion of the workforce.
These figures underscore the significance of SMEs in fostering economic growth and stability within the country's broader economic framework.
The index rose by 0.1 points to reach a value of 89.0, compared to December 2023.
CASME reported that six out of eight sub-indices demonstrated growth during January.
Notable improvements were observed in key areas such as market conditions, labor availability, and investment activities.
Examining sector-specific performance, the sub-indices for various industries experienced increases: the industrial sector saw an uptick of 0.1 points, while the transport sector rose by 0.4 points.
The real estate sector improved by 0.2 points, and the wholesale and retail sales sector also experienced a gain of 0.2 points.
The social service sector recorded a notable increase of 0.5 points, and the information transmission and software sectors advanced by 0.3 points.
From a regional perspective, the sub-indices varied with the eastern region achieving a score of 89.7, up 0.1 points.
The western region climbed to 88.1, marking an increase of 0.3 points, whereas the northeastern region also recorded growth, reaching 81.0 with a 0.3 point rise.
The central region maintained a stable score of 89.9, unchanged from the previous month.
In China’s economic landscape, SMEs play a crucial role, comprising more than 90 percent of private enterprises and employing a substantial portion of the workforce.
These figures underscore the significance of SMEs in fostering economic growth and stability within the country's broader economic framework.
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