The index, which is calculated based on a survey of 3,000 SMEs, is 1 point higher from December 2022, marking the largest increase over the past two years. The sub-indexes for eight sectors all rallied in January, with sectors including transport and storage logging the biggest improvement, the China Association of Small and Medium Enterprises said.
The Chinese government has been providing support to SMEs through policies such as tax cuts, fee reductions, and improved access to financing. China’s economy has been rebounding strongly, with its gross domestic product (GDP) growing 8.1 per cent in the fourth quarter of 2022, driven by a rebound in exports and increased consumer spending, according to local media reports.
ALCHEMPro News Desk (NB)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
