Hey there, business enthusiasts! 📣 Guess what? China's small and medium-sized enterprises (SMEs) just reported their strongest growth of 2024 this October! 🎉
The Small and Medium Enterprises Development Index, which surveys 3,000 SMEs across eight major industries, hit a whopping 89 last month. That's up by 0.3 points from September, according to the China Association of Small and Medium Enterprises. 📊
This isn't just any growth—it's the largest increase this year and the highest since March 2023! 💪 Talk about making moves!
What's driving this upswing? Supportive policies have boosted confidence big time. The sub-index measuring SMEs' confidence in the macroeconomy climbed from 98.2 to 98.8 in just a month. 🔝
Industries are on the rise too! The industrial production sub-index kept its upward trend, while sectors like construction, transportation, real estate, social services, accommodation, and catering flipped the script from declines to expansion. 🏗️🚚🏡🍽️
Just so you know, the index uses multiple sub-indexes to gauge performance and expectations. A score above 100 means businesses are trending up 📈, while below 100 indicates they're slowing down. But with numbers like these, it seems China's SMEs are gearing up for an exciting time ahead! 🚀
Stay tuned for more updates on the economic buzz! 😉
Reference(s):
cgtn.com
