Chinese SMEs continue recovery momentum last month

BEIJING - China's small and medium-sized enterprises (SMEs) continued their recovery momentum in July 2023 amid strengthening policy support for the private economy and investment, data from an industry association showed Wednesday.

The SME development index gained 0.2 points to 89.3 last month, the China Association of Small and Medium Enterprises said.

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

Sub-indices for the real estate and social service sectors both went up 0.3 points last month, marking the most significant increases among all sectors tracked.

Bucking the upward trend, sub-indices for the construction and wholesale sectors both dipped 0.1 points during the period, according to the association.