( Hong Kong, 21st July 2020 ) Standard Chartered Bank's latest July China Small and Medium Enterprise Confidence Index (SMEI) further rebounded to 53.9, which is the first year-on-year increase since February. The manufacturing industry continues to lead the recovery, while the service industry is also depressed. Speed up recovery under demand release.
According to the report, the survey covers hundreds of small and medium-sized enterprises across the country. Despite the floods in South and Central China, the survey results still show that companies continue to recover from the new crown epidemic, with SMEI rising from 53.3 in June to 53.9 in July.
As for the performance of different sectors, the manufacturing industry continued to outperform the service industry, leading the overall recovery. However, the actual activities of the service industry began to catch up from June to July, especially the industries that have been hit hard by the epidemic such as transportation, real estate, catering, and accommodation. Under the release of suppressed demand, they have shown greater upward momentum than other service industries.
**Info & Image are taken online
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