SME confidence slips again in Q3

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Category: Ningbo Business

Published: Tuesday, 20 November 2012 09:22

The Standard Chartered Bank released China's SME confidence index in the third quarter in a press conference in Ningbo this Tuesday. The report is designed to reflect the external environment, operational status, investment direction and financing needs for SMEs. According to the report, the SME confidence index stood at 46.71. The highest reading is the macro-economic confidence index, which stood at 50.45, and the lowest reading is the investment confidence index, which stood at 43.30.

The press conference was jointly organized by Ningbo Municipal Commission Of Economy and Information, the Municipal Finance Office and Standard Chartered Bank (China) Ningbo Branch. Chen Zhongchao, the vice mayor, attended the announcement ceremony.

Released by Standard Chartered Bank, the index is measured by the survey responses of China's SMEs. Through a quantitative analysis, it intends to reflect the subjective and objective influencing factors including the production, sales, procurement, investment and financing of a firm. The quarterly published index covers more than 1,000 SMEs of more than 10 various sectors. It has four categories: the macro economy, business operations, investment and financing confidence.

SME confidence index released on Tuesday shows that confidence among small and medium-sized enterprises dropped further in the third quarter, as the country's economic growth continued to slow down.