China's SMEs report improved performance in Q1

China's small and medium-sized enterprises (SMEs) saw improved business performances in the first three months of the year, according to a report from the China Association of Small and Medium Enterprises released on Thursday.

The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs across eight major industries, stood at 89.5 in the first quarter, 0.5 points higher than the previous quarter, the association said.

The improved index was driven by booming holiday consumption and strengthened policy support, the association added.

In terms of sectors, the sub-indexes for industry, social services, transport, wholesale and retail, and information transmission software all expanded compared with the previous quarter, while the sub-index for the construction industry remained flat. The sub-indexes for the real estate and accommodation and catering sectors, meanwhile, continued to decline.

The association called for efforts to expand demand, boost consumption and fully harness the enthusiasm of private capital, and emphasized the importance of developing new growth drivers. ■