China's small and medium-sized enterprises (SMEs) are proving to be the backbone of economic resilience, with fresh data revealing a strong finish to 2024. According to the Standard Chartered China Small and Medium Enterprise Confidence Index, key performance metrics surged in December, showcasing renewed momentum in manufacturing and cross-border trade.
Manufacturing on the Rise
The manufacturing sector—a powerhouse of the Chinese economy—saw SME performance hit an eight-month high, driven by robust sales, production, and new orders. The sector’s sub-index rose to 52.2, marking a steady recovery. Meanwhile, cross-border trading SMEs also rode the wave, with sales reaching levels unseen since April 2023.
Policy Support Fuels Growth
While real estate and construction sectors still lag, December’s rebound highlights the impact of targeted government policies. A 500 billion yuan relending facility aims to boost tech innovation and help SMEs overcome funding hurdles—a game-changer for businesses often sidelined by traditional lending practices.
Digital Solutions Break Barriers
Chinese lenders are leaning into AI and digital tools to support SMEs. MyBank, a trailblazing digital bank under Ant Financial, has already extended credit to over 53 million SMEs nationwide. This tech-driven approach is rewriting the rules of access to capital, empowering smaller players to thrive.
With SMEs contributing nearly 60% of China’s GDP, their resilience isn’t just good news—it’s a blueprint for sustainable growth in a fast-evolving global economy.
NewspaperAmigo – Your Global News Buddy 
According to the Standard Chartered China Small and Medium Enterprise Confidence Index, key performance metrics surged in December, showcasing renewed momentum in manufacturing and cross-border trade.
