The index comprises many sub-indexes, which are used for estimating the progress and projections of SMEs. The sub-index for the industry sector, that had declined in July, rose by 0.1 points in August.

China’s SMEs have maintained their recovery momentum with the Small and Medium Enterprises Development Index standing at 88.3 for August 2022, the same as for July 2022. The recovery has been attributed to government policies intended to stabilise the economy. The sub-index for the industry sector rose up by 0.1 points compared to the decrease in July.

The Small and Medium Enterprises Development Index is determined by conducting a survey of 3,000 SMEs, Chinese media reports said quoting the China Association of Small and Medium Enterprises.

Fibre2Fashion News Desk (NB)