Improved development environment for Chinese SMEs in 2024: report

BEIJING -- The development environment for China's small and medium-sized enterprises (SMEs) continued to improve last year as their business revenues maintained a stable trend, according to a report released on Monday.

The report, based on both online and offline surveys of SMEs in 50 cities across the country, assessed five major criteria by looking into the market environment, legal environment, financing environment, innovation environment and policy environment, respectively.

The report said that SMEs in China maintained largely stable revenue growth in 2024, with 60 percent of them reporting increased or stable revenues last year.

Meanwhile, nearly 64 percent of SMEs producing new, unique, specialized and sophisticated products have further plans for innovation and research and development investment, and 40.35 percent of such enterprises have investment plans in the coming year.