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China SME confidence improves amid stabilizing economy

(Xinhua)    08:14, August 29, 2019

BEIJING, Aug. 28 -- China's small and medium-sized enterprises (SMEs) showed improving business confidence in August as the country's economy is stabilizing amid policy support, a report showed.

The China SME Confidence Index rose to 54.5 in August from 53.8 in July, ending a continous fall for three consecutive months, according to a report from Standard Chartered Bank.

The sub-indices of current performance and business outlook edged up from July. Domestic orders rose and production accelerated gently.

The impact of the country's counter-cyclical policy measures adopted earlier this year seems to have started to feed through to the real economy, as SMEs' expectations of real activity turned benign, pointing to a possible mild recovery later this year, the report showed.

Official data showed Tuesday that the profits of China's major industrial firms rebounded in July with a 2.6-percent year-on-year growth, after falling 3.1 percent in June.

The report pointed out that credit conditions remained a concern for SMEs, adding that the recent loan prime rate reform, making it the new reference rate for loans, should improve interest rate transmission.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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