Added value of China's small, medium industrial enterprises up 8pct in Jan-May

The added value of China's small and medium-sized industrial enterprises above the designated size increased by eight percent in the first five months of the year, according to data from the Ministry of Industry and Information Technology (MIIT) on Saturday.

Officials from the MIIT said the overall economic performance of China's small and medium-sized enterprises remained stable from January to May. Of the 31 major manufacturing sectors, 28 recorded year-on-year growth during the period.

"The quality and efficiency of small and medium-sized enterprises have steadily improved. 'Little Giant' enterprises in key fields have created new growth drivers, tackled new technologies, developed new products, and enhanced their capacity to support industrial supply chains, effectively contributing to the stable operation of the industrial economy," said Jia Hongwei, deputy head of the SME Bureau at the Ministry of Industry and Information Technology.

Small and medium-sized industrial enterprises with an annual main business revenue of at least 20 million yuan (about 2.79 million U.S. dollars) saw their operating revenue rise to 32.6 trillion yuan from January to May.

Among these enterprises, those in the equipment manufacturing sector, including computers, communication, electronic equipment, and electrical machinery, maintained rapid profit growth.

In addition, the overall export momentum of small and medium-sized enterprises remained strong in the five-month period, and their pace of digital transformation continued to accelerate, according to the ministry.

Added value of China's small, medium industrial enterprises up 8pct in Jan-May

South Korean President Lee Jae Myung said on Wednesday that Seoul firmly adheres to the one-China principle, in comments made ahead of his upcoming state visit to China.

The remarks were made in an interview with China Media Group (CMG). The visit is scheduled for Jan 4–7.

"The consensus reached between governments of the Republic of Korea and China when diplomatic relations were established continues to be the fundamental principle governing our relations, and its effectiveness remains steadfast. I want to clearly state that the ROK has always adhered to the one-China principle. Maintaining peace and stability in regional matters, including in Northeast Asia and concerning the Taiwan issue, holds significant importance to us," said Lee.

"The foundational relationship between the ROK and China was established on a very principled and fundamental basis from the beginning. It is clear that the ROK government has always adhered to this position and has never wavered from it. I believe that the sound development of ROK-China relations depends on both sides fully respecting each other's core interests and being mutually tolerant of each other's positions. In this context, we will, as always, uphold the one-China principle as the Taiwan issue is China's most fundamental concern," he said.

ROK president reiterates firm adherence to one-China principle