China SME Confidence Index

The objective is to provide comprehensive evaluation and dynamic observation of the status and development of China SMEs via three dimensions of sub-indexes, performance, expectation and credit. In May 2016, SMEI was uploaded on Bloomberg Terminal as the core index reflecting the economic development of China SMEs.

2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016

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2025


August China SMEI – Performance weakened in August
July China SMEI – Barely moved in July
June China SMEI – Demand weakened in June
May China SMEI – Activity softens marginally in May
April China SMEI – Moderation in April
March China SMEI – Seasonal recovery in March
February China SMEI – Activity slows in February
January China SMEI – Services improved ahead of holidays

2024


December China SMEI – Activity picked up in December
November China SMEI – Services softened again in November
October China SMEI – Sentiment improved modestly in October
September China SMEI – Services activity fell further in September
August China SMEI – Performance weakens further in August
July China SMEI – Marginal improvement in July
June China SMEI – Falling below 50 in June
May China SMEI – Slower expansion in May
April China SMEI – Gaining momentum in April
March China SMEI – Activity rebounded in March
February China SMEI – Activity slowed in February
January China SMEI – Services activity accelerated in January

2023


December China SMEI – Activity barely expands in December
November China SMEI – Manufacturing weakened in November
October China SMEI – Slower expansion in October
September China SMEI – Uptick continues in September
August China SMEI – Manufacturing rebounded in August
July China SMEI – Steady monthly performance in July
June China SMEI – Momentum weakened further in June
April China SMEI – Continued expansion in April
March China SMEI – Broad-based acceleration in March
February China SMEI – Back to expansion in February
January China SMEI – Not good but better

2022


November China SMEI – Activity slowed further in November
October China SMEI – Activity contracted marginally in October
September China SMEI – Services weakened in September
August China SMEI – Slowdown again in August
July China SMEI – Recovering confidence in July
June China SMEI – Regaining momentum in June
May China SMEI – No turnaround yet in May
April China SMEI – Falling below 50 in April
Mar China SMEI – Seasonal pick-up in March
Feb China SMEI – Outlook improved in February
Jan China SMEI – A soft start to the year

2021


December China SMEI – Further improvement in December
November China SMEI – Marginal improvement in November
October China SMEI – Broad-based softening in October
September China – SME activity remains soft in September
August China SMEI – Weaker sentiment in August
July China SMEI —Weaker momentum in July
June China SMEI — More balanced recovery in June
May China SMEI — Activity eases but remains strong in May
Apr China SMEI — Recovery picks up speed in April
Mar China SMEI — Recovery regains momentum in March
Feb China SMEI — Broad-based decline in February
Jan China SMEI — Sentiment turned more cautious in January

2020


Dec China SMEI — Exports drive small-business growth
Nov China SMEI — Maintaining momentum in November
Oct China SMEI — Rebound running out of steam
Sep China SMEI — V-shaped recovery is flattening out
Aug China SMEI — Rebound shows signs of peaking
July China SMEI — Another month of broad-based gains
June China SMEI — Further Improvement in June
May China SMEI — Broad-based Improvement in May
Apr China SMEI — An unexciting recover
Mar China SMEI — Recovering slowly in March
Feb China SMEI — Virus hit borne out by record-low reading
Jan China SMEI — Pre-holiday retreat

2019


Dec China SMEI — Recovering towards year-end
Nov China SMEI — Manufacturing continues to recover
Oct China SMEI — Early signs of stabilisation
Step China SMEI — Dragged down by the real-estate sector
Aug China SMEI — Signs of stabilisation in the economy
July China SMEI — Performance remains downbeat
June China SMEI — Sluggish performance continues in June
May China SMEI — Broad-based weakening in May
Apr China SMEI — Convergence of expections and reality
Mar China SMEI — Outlook remained strong in March
Feb China SMEI — Banks increase credit support for SMEs
Jan China SMEI — A credit-driven uptick

2018


Dec China SMEI – Weaker outlook despite better current performance
Nov China SMEI – Credit conditions cease to deteriorate
Oct China SMEI – Downward pressure is intensifying
Sept China SMEI – Downtrend resumes
Aug China SMEI – Early signs of credit easing
July China SMEI – Dragged down by a lack of credit
June China SMEI – Cooling down in June
May China SMEI – Gaining pace in May
Apr China SME Confidence Index Report: Signs of softening in April
Mar China SME Confidence Index Report: Growth recovered in March
Feb China SME Confidence Index Report: A holiday break with hopes
Jan China SME Confidence Index Report: Weakening momentum

2017


Dec China SME Confidence Index Report: Credit access improves for SMEs
Nov China SME Confidence Index Report: Signs of softening in December
Oct China SME Confidence Index Report: Headwinds gathering in Q4
Sep China SME Confidence Index Report: Rising concern over input prices in September
Aug China SME Confidence Index Report: Gathering momentum in August
July China SME Confidence Index Report: Confidence recovers in July
June China SME Confidence Index Report: Bumpy road ahead in H2
May China SME Confidence Index Report: A softer reading in May
April China SME Confidence Index Report: Softer in April after March mania
March China SME Confidence Index Report: Big jump in March
February China SME Confidence Index Report: Prospects brighten for SMEs
January China SME Confidence Index Report: A holiday pause with uncertainties ahead

2016


December China SME Confidence Index Report: Bumpy road ahead
November China SME Confidence Index Report: Stable but not secure
October China SME Confidence Index Report: A mixed picture in October
September China SME Confidence Index Report: Activity regains momentum in September
August China SME Confidence Index Report: Activity softened again in August
July China SME Confidence Index Report: A moderate improvement in July
June China SME Confidence Index Report: SMEs lose steam
May China SME Confidence Index Report: Stuck in second gear
April China SME Confidence Index Report: SME activity continues to recover
March China SME Confidence Index Report: Post-holiday rebound in SME activity
February China SME Confidence Index Report: Weak SME activity in the holiday season
January January China SME Confidence Index Report: Weak start to the year for SMEs

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