China's SMEs show stable development in January-July period

China's small and medium-sized enterprises (SMEs) showed stable development in the first seven months of the year, laying a solid foundation for the steady operation of the country's macro economy, official data showed Tuesday.

The combined operating revenue of the country's major small and medium-sized industrial firms rose 8.1 percent year on year in the January-July period. The profits of these companies during the period were up 1.6 percent from a year earlier.

Preferential policies have been rolled out to ease the financial burden of smaller businesses and further boost their vitality.

In the first half, the country's micro, small and medium-sized enterprises received nearly 1.8 trillion yuan (about 261.62 billion U.S. dollars) in tax-and-fee cuts and deferrals, as well as tax refunds, official data showed.