Continue improving policy environment for SMEs
According to the Ministry of Industry and Information Technology, the small- and medium-sized enterprise operating index was 50.7 in October, expanding for six consecutive months. Additionally, China Association of Small and Medium Enterprises data indicate that the SME Development Index for October stood at 89, a rise of 0.3 percentage points from that in September, marking the largest increase since March 2023. Also, another nationwide official survey revealed that companies operating at full capacity accounted for 40.2 percent of the total, an increase of 4.4 percentage points from the month before. At the 19th China International SMEs Fair held recently, relevant departments announced that China has cumulatively nurtured over 140,000 specialized and innovative SMEs and formed 300 characteristic industrial clusters for SMEs. The action plan is aimed at establishing a well-matched supply and demand ecosystem for SME digital transformation, pushing the digital transformation of SMEs toward a broader scope, higher level and better quality and efficiency.
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