China's Small and Medium-Sized Enterprises (SMEs) Development Index edged up 0.3 to 89.0 points in October from the previous month, industry data showed Monday.
This marks the largest increase so far this year and the largest single-month increase since March last year.
A survey conducted by the China Association of Small and Medium-Sized Enterprises showed that the recent introduction of a package of incremental policies by various competent central government agencies to boost economic recovery is the main factor behind the index growth.
Divided by regions, in October, the SME development index in the eastern, central, western and northeastern parts of China all increased, with the western and northeastern regions seeing the largest increases of 0.6 and 0.9 points respectively.
Meanwhile, the proportion of enterprises with an operating rate of more than half exceeded 75 percent, and the proportion of enterprises fully operating was 40.2 percent, both of which increased significantly compared with September, according to the survey.
"From the October index, we can see that the SMEs have achieved a comprehensive recovery since the beginning of the fourth quarter, and they are striving to maintain the upward momentum, which will also create favorable conditions for meeting the goals and fulfilling the tasks for the whole year," said Ma Bin, executive vice president, China Association of Small and Medium-Sized Enterprises.
China's SME development index edges up in October
