China’s small and medium-sized enterprises (SMEs) reported better business performance in the first three months of this year, according to an industry index.

The Small and Medium Enterprise Development Index, which is based on a survey of 3,000 such companies in eight main industries, stood at 89.3 points in the first quarter, 0.2 points more than in the previous quarter, reported the China Small and Medium Enterprises Association.

The index’s rebound was the result of the acceleration of production after the Spring Festival, as well as a faster economic pace driven by a series of policies implemented after the “two sessions,” the association said in a report.

The subindex for the industrial production, real estate and information transmission, computer services and software sectors expanded compared to the previous quarter, while that for the retail and wholesale industry remained stable.

The association warned of looming headwinds amid growing complexity and uncertainty, and called for efforts to strengthen countercyclical and intercyclical adjustments to macroeconomic policies, level the playing field for companies of all types of ownership and fully implement measures to boost the growth of the private economy.


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