China's SMEs report improved performance in October

BEIJING -- The activities of China's small and medium-sized enterprises (SMEs) picked up in October as the country's economy has logged a stable recovery since the third quarter of this year, industry data showed.

The Small and Medium Enterprises Development Index, calculated based on a survey of 3,000 SMEs, came in at 88.2 last month, the same as the level registered in September and reversing the contraction, according to the China Association of Small and Medium Enterprises.

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

The sub-indices for several sectors reported stable growth in the period, with that for construction and industry climbing 0.2 points and 0.1 point, respectively, from September.

The data also showed that the sub-indices measuring SMEs' confidence, market activities and profits all increased last month, reversing the decline in September.