China publishes its first SME development index

China publishes its first SME development index

中國首次發布中小企業發展指數

China's small-and medium-sized enterprises(SME)development index was 106.7 in the second quarter this year， down 0.4 percentage points from the first quarter，with the index movement turning to steady after continuous rises for three quarters running，according to a survey on SME development index sponsored by the China Association of Small and Medium Enterprises(CASME).Of the index，the index on tnterprises'feeling of the macro economy， production， financing and floating funds declined.

This is the first time for China to publish te SME development index，which is based on the contribution of national economy to various sectors'GDP.Compiling the indexes，CASME survered SMEs in nine sectors such as industry， construction， transport and the real estate，with each of the sectors taking up about 15 economic indices.The development indice of the nine sectors under the survey were above 100，including real estate at 100.3， approaching the critical line 100， and down 3.2 percentage points from the first quarter，making the climate index of financial sector down 0.8 percentage points.

The indexes range between zero to 200.A reading above 100 shows expansion while a ranking below 100 indicates contraction.

According the survey，the macro economy feeling index of SMEs was 111.6 in April-June，down 1.47 percentage points from the previous quarter；and the composite operation index was 99.2，below the critical line of 100； the investment index， 111.8， down 0.4 percentage points； the output index， 107.9， down one percentage point； floating fund index， 105.6， down 3 percentage points； the enterprise financing index， a major gauge of the country's financing status for SMEs，97.4， down one percentage point； the labor demand

index， 106.8， up 2.5 percentage points;and the labor market supply index， 84.9， below the critical line.