China’s SME development index edges up in Q4 2024

An index tracking the development of China's small and medium enterprises (SMEs) edged up in the fourth quarter of 2024, marked by improved confidence and market demand, said an official of the China Association of Small and Medium-Sized Enterprises (CASME).

According to the data released by CASME on Sunday, the development index of SMEs in China edged up 0.1 points to 89.0 in the fourth quarter of 2024.

In the fourth quarter, both the comprehensive business index, which indicates the overall conditions for enterprises, and the market index, which reflects the supply and demand for enterprise orders, production sales and inventory, rose by 0.1 points from the previous quarter.

SMEs in China operated smoothly last year, with their vitality and motivation fully released. In the last quarter of 2024, their confidence in development was strengthened due to the country's stock policies and incremental policies.

"The industrial growth was good [in the fourth quarter of 2024], playing a strong driving role. The annual industrial index rose by 0.3 points, with the efficiency gradually improved. Fixed asset investment in China showed a recovery growth, and companies' willingness to invest also increased," said Ma Bin, executive vice president of CASME.

In 2024, SMEs in China accelerated their transformation and upgrading, with digitalization, intelligence, and green development becoming the main targets.

The industrialization rate of effective invention patents for SMEs has reached 55.1 percent, continuing the rise for two consecutive years.

The average research and development investment of China's "little giant" enterprises, referring to the novel elites of SMEs that are engaged in manufacturing, specialize in a niche market, and boast cutting-edge technologies, accounted for seven percent of their operating income, according to CASME. Currently, China has more than 140,000 SMEs that use special and sophisticated technologies to produce novel and unique products or those who have been awarded individual manufacturing champion or named national high-tech enterprise, among which more than 600,000 are tech-driven and innovation-oriented ones, said the CASME data.

China’s SME development index edges up in Q4 2024

Hailing the African Union (AU) as a flagship for multilateralism, United Nations (UN) Secretary-General Antonio Guterres said on Saturday that the absence of permanent African seats in the UN Security Council is indefensible.

Addressing the 39th Ordinary Session of the Assembly of Heads of State and Government of the AU, which opened Saturday at the AU headquarters in Addis Ababa, the capital of Ethiopia, the UN chief said "In a world filled with division and mistrust, the African Union is a flagship for multilateralism. My gratitude runs deep. I will carry with me always the unwavering, decisive support of the African Group in the UN on issue after issue, initiative after initiative, in the shared struggle for justice and equality."

Guterres recalled the cooperation between the UN and the AU over the years.

"Over the last decade, our cooperation has reached new heights. Joint frameworks on peace and security, sustainable development, and human rights. Collaboration during COVID-19. Important new partnerships. And the landmark adoption of Security Council Resolution 2719, creating a pathway for predictable funding for AU-led peace support operations," he said.

"The absence of permanent African seats in the Security Council is indefensible. This is 2026, not 1946. Whatever decisions about Africa and the world are on the table, Africa must be at the table," he stressed.

The two-day AU summit, which brings together leaders from AU members, is held under the theme "Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063."

Absence of permanent African seats in Security Council indefensible: UN chief