CCTV News: In the fourth quarter of 2024, China's Small and Medium Enterprises Development Index (SMEDI) was 89.0, up 0.1 point from the third quarter.

The high operating rate of small and medium-sized enterprises has increased. A survey on the operating rate of sample enterprises showed that in the fourth quarter, 39.4% of enterprises fully started construction, an increase of 6.7 percentage points from the third quarter; 14.7% of enterprises with operating rates between 75% and 100%, an increase of 1.1 percentage points; 19.8% of enterprises with operating rates between 50% and 75%, a decrease of 1.6 percentage points; 17.5% of enterprises with operating rates below 50%, a decrease of 4.7 percentage points; 8.6% of enterprises with operating rates not started, a decrease of 1.5 percentage points.

The sub-item index rises 2, 3, 3, and 3, and 3, and 3. As shown in the table below, in the fourth quarter, the comprehensive operating index and market index turned from decline to increase, up 0.1 point from the third quarter. The macroeconomic experience index, investment index and efficiency index have turned from decline to flat. The cost index, capital index and labor index continued to decline, down 0.1 point from the third quarter. The production and operation conditions of small and medium-sized enterprises continue to improve, and the prosperity level remains a rebound.

Table 1 Sub-item index situation

Term index index 2 rises, 3 sets, 3 drops, 3. As shown in the table below, in the fourth quarter, the index of industrial and social services turned from decline to increase, up 0.1 point from the third quarter. The construction industry, transportation industry, and wholesale and retail industry have declined to flat. The indexes of the real estate industry, information transmission software industry, and accommodation and catering industry continued to decline, down 0.1, 0.1 and 0.2 points from the third quarter respectively. Among them, the sub-indexes of production, orders, sales, and costs in industrial and social services have all risen. Overall, the industry's operation was stable and improving in the fourth quarter.

Table 2 Index of the Industry

Regional Index of the Regional Index all rose. In the fourth quarter, the development index of small and medium-sized enterprises in the eastern, central, western and northeastern regions was 89.7, 89.9, 87.9 and 81.0 respectively, up 0.2, 0.4, 0.4 and 0.7 points from the third quarter, respectively. Among them, the Northeast region has the largest increase.

From the fourth quarter small and medium-sized enterprise development index, the current operation of small and medium-sized enterprises shows the following main characteristics:

Development expectations are stable and improving. In the fourth quarter, the macroeconomic perception index reflecting corporate expectations was 98.5, the same as in the third quarter. Among them, the macro situation perception index was 103.1, which remained the same month-on-month; the industry situation perception index was 93.9, which remained the same month-on-month.

Market demand has rebounded steadily. In the fourth quarter, the market index was 80.8, up 0.1 point from the third quarter. Among the eight industries surveyed, the market index in 3 industries rose and the market index in 2 industries remained the same. Among them, the market index of industry, construction and transportation industries rose, up 0.2, 0.1 and 0.2 points from the third quarter respectively. The domestic order index in four industries rose, and the sales index in four industries rose.

The funding situation has become tighter. In the fourth quarter, the capital index was 100.6, down 0.1 point from the third quarter, and is still above the critical value of economic development of 100. Among them, liquidity remains stable, accounts receivable turnover slows down, and financing conditions are tightened. In the fourth quarter, the liquidity index was 85.0, the same as in the third quarter, and the financing index was 90.2 points, down 0.1 points from the third quarter. Among the eight industries surveyed, the liquidity index rose 1, 3 square meters and 4 declined, the accounts receivable turnover index rose 2, 2 square meters and 4 declined, and the financing index rose 2, 1 square meters and 5 declined.

The labor supply remains flat and demand decreases. In the fourth quarter, the labor index was 105.7, down 0.1 point from the third quarter. Among them, the supply index was 113.9, the same as in the third quarter. The demand index was 97.6, down 0.1 point from the third quarter. Among the eight industries surveyed, the demand index in four industries declined.

The company's investment intention remains stable. In the fourth quarter, the investment index was 82.8, the same as in the third quarter. Among the eight industries surveyed, the investment index in three industries remained unchanged.

The cost pressure on enterprises has been slightly alleviated. In the fourth quarter, the cost index was 112.1, down 0.1 point from the third quarter. Among the eight industries surveyed, the cost index in 5 industries decreased, while the cost index in 3 industries remained unchanged. Among them, the labor cost index of five industries has declined.

The company's efficiency is relatively stable. In the fourth quarter, the efficiency index was 73.8, the same as in the third quarter. Among the eight industries surveyed, the efficiency index of six industries remained flat, the efficiency index of the information transmission software industry fell by 0.2 points month-on-month, and the efficiency index of the real estate industry rose by 0.1 points.

In the fourth quarter, the effects of existing policies were continuously released, the effects of a package of incremental policies were accelerated, the expectations and confidence and market demand of small and medium-sized enterprises were gradually improved, the vitality and momentum of development were effectively released, and the operating trend of small and medium-sized enterprises was generally stable and steady. At the same time, we must also see that the external environment is more complex, domestic effective demand is insufficient, and some enterprises have difficulty in production and operation. In the next step, we must fully implement the spirit of the Central Economic Work Conference, adhere to the general tone of work of seeking progress while maintaining stability, further comprehensively deepen reforms, expand high-level opening up, and take expanding demand and revitalizing consumption as the top priority, create more market opportunities and development space for small and medium-sized enterprises, and lay a solid foundation for the sustained recovery and improvement of the economy.