BEIJING, 28th November, 2024 (WAM) -- Small and medium-sized enterprises (SMEs) in China reported a steady improvement in business performance in October, with expanding domestic and foreign trade markets and growing confidence in development, according to the Ministry of Industry and Information Technology (MIIT).
According to China Central Television (CCTV), the added value of China's industrial small and medium-sized enterprises (SMEs) above a designated size increased by 7.0 percent year-on-year in the first ten months.
The added value of 39 out of 41 major industries maintained growth, which strongly supported the steady growth of China's industrial economy.
The SMEs production index reached 50.7 percent in October, staying in the expansion range for a sixth consecutive month. A production index above 50 indicates expansion, while a reading below 50 reflects contraction.