China's small and medium-sized enterprises (SMEs) registered a further increase

China's small and medium-sized enterprises (SMEs) registered a further increase in their activities in the first quarter (Q1) of this year as the country's economy continues its robust recovery, industrial data showed Sunday.

The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs from eight major industries, came in at 89.3 in Q1, up from 88 in the fourth quarter (Q4) of 2022, the China Association of Small and Medium Enterprises said in a monthly report.

The figure, although still lower than the boom-and-bust line of 100, reversed the downward trend seen since the second quarter of 2021.