China's SMEs log improved performance in January

BEIJING -- The activities of China's small and medium-sized enterprises picked up in January, as the country's economy continued to recover steadily, industrial data showed.

The Small and Medium Enterprises Development Index, calculated based on a survey of 3,000 SMEs, came in at 88.9 last month, reversing a downward trend, according to the China Association of Small and Medium Enterprises.

The figure was up 1 point from December 2022, the largest increase over the past two years, the association said.

The sub-indexes for eight sectors all rallied in January, with that of the transport, storage, and accommodation and catering sectors logging the biggest improvement, according to the association.

"Thanks to efforts to coordinate COVID-19 response and economic and social development, and the implementation of pro-growth policies, the overall economy continued to see a recovery trend," said Ma Bin, the executive vice president of the association.

However, Ma cautioned about difficulties in business operations and structural upgrading for SMEs, calling for further improving the development environment of private enterprises to help SMEs shore up growth.