Group 1 - The Small and Medium Enterprises Development Index (SMEDI) in China remained stable at 89.0 in July, unchanged from June [1] - In July, the funding index and input index increased by 0.2 points and 0.1 points respectively compared to June, while the comprehensive operation index and efficiency index remained flat [1] - The construction, transportation, real estate, social services, information transmission software, and accommodation and catering industries showed significant increases in their development indices, rising by 0.6, 0.4, 0.3, 0.3, 0.3, and 0.3 points respectively [1] Group 2 - The development environment for small and medium enterprises in China is stabilizing, with improved funding conditions and reduced operational cost pressures [2] - There is an increasing willingness for investment among enterprises, supported by effective macroeconomic policies [2] - Future efforts will focus on deepening economic reforms, stimulating domestic demand, and supporting innovation and efficiency improvements in private and small enterprises [2]

Core Viewpoint - The China Small and Medium Enterprises Development Index (SMEDI) for July remains stable at 89.0, unchanged from the previous month [1] Industry Summary - The index shows a positive trend in various sectors, with 6 industries experiencing growth and 2 industries seeing a decline [1] - Notable increases were observed in the construction, transportation, real estate, social services, information transmission software, and accommodation and catering industries, with respective increases of 0.6, 0.4, 0.3, 0.3, 0.3, and 0.3 points [1] - The industrial and wholesale retail sectors experienced slight declines of 0.2 and 0.1 points, respectively [1] - Overall, the operational status of the industries is improving [1]

| 分行业 | 2025M7 | 2025M6 | 涨幅(25M7-25M6) | | | --- | --- | --- | --- | --- | | 总指数 | 89. 0 | 89. 0 | t | 0. 0 | | 工业 | 89. 5 | 89. 7 | → | -0.2 | | 建筑业 | 89. 6 | 89. 0 | t | 0. 6 | | 交通运输业 | 83. 7 | 83. 3 | t | 0.4 | | 房地产业 | 91.6 | 91.3 | ۔ | 0. 3 | | 批发零售业 | 88. 8 | 88. 9 | → | -0. 1 | | 社会服务业 | 89. 1 | 88. 8 | ﮩ | 0. 3 | | 信息传输软件业 | 89. 2 | 88. 9 | t | 0. 3 | | 住宿餐饮业 | 80. 8 | 80. 5 | 1 | 0. 3 | 责任编辑：韦子蓉 8月10日，中国中小企业协会发布，7月中国中小企业发展指数（SMEDI）为89.0，与上月持平。分行业 指数6升2降。7月份，建筑业、交通运输业、房地产业、社会服务业、信息传输软件业和住宿餐饮业上 升幅度 ...

Core Insights - The Small and Medium Enterprises Development Index (SMEDI) in China rose to 89.5 in May, an increase of 0.3 points from April, marking a significant recovery after two months of decline [1] - The improvement in the index is attributed to enhanced macroeconomic policies, better supply-demand relationships in certain industries, and a noticeable recovery in economic sentiment, which has positively influenced small and medium enterprises' performance and investment willingness [1] Economic Indicators - In May, various economic indices showed positive changes compared to April: - Macroeconomic sentiment index increased by 0.7 points - Comprehensive operation index rose by 0.6 points - Market index up by 0.2 points - Capital index increased by 0.3 points - Labor index grew by 0.2 points - Input index up by 0.4 points - Efficiency index increased by 0.4 points - The cost index remained stable compared to April, indicating a favorable trend in the operational environment for small and medium enterprises [1] Industry Performance - In May, several industries experienced growth compared to April: - Industrial sector increased by 0.6 points - Transportation sector rose by 0.6 points - Real estate sector up by 0.2 points - Wholesale and retail sector increased by 0.1 points - Information transmission and software sector grew by 0.4 points - Accommodation and catering sector also rose by 0.4 points - However, the construction and social services sectors saw declines of 0.2 points and 0.3 points, respectively, indicating a mixed performance across industries [1] Regional Analysis - The development indices for small and medium enterprises in May by region were as follows: - Eastern region: 90.5 - Central region: 90.3 - Western region: 88.7 - Northeastern region: 81.8 - The ongoing release of policy effects has led to a noticeable recovery in development expectations for small and medium enterprises, although challenges remain due to external uncertainties and the need for further domestic demand and consumption stimulation [2]

Group 1 - The Small and Medium Enterprises Development Index (SMEDI) in China for May is reported at 89.5, indicating a rise of 0.3 points compared to April, marking a significant recovery after two months of decline [1]