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Macro-economy

Data show improved inclusive financial services for China's SMEs

February 20, 2019


Abstract : The second CCB·Xinhua Inclusive Finance-SME Index was unveiled in Beijing on Monday, showing that inclusive financial services for China's small- and micro-sized enterprises (SMEs) had been improved in the third quarter of 2018.

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BEIJING, Feb. 19 (Xinhua) -- The second CCB·Xinhua Inclusive Finance-SME Index was unveiled in Beijing on Monday, showing that inclusive financial services for China's small- and micro-sized enterprises (SMEs) had been improved in the third quarter of 2018.

The CCB·Xinhua Inclusive Finance-SME Index is jointly compiled by the China Construction Bank (CCB) and China Economic Information Service (CEIS) of Xinhua News Agency, and it includes four sub-indices, namely, financing index, service index, development index and business index.

It reflects the capability of Chinese financial system to provide convenient service at relatively reasonable prices for SMEs and depicts the running situation and development status of inclusive finance for SMEs, creating a "barometer" and "compass" for inclusive finance of SMEs.

According to the financing index this time, the supply index under it in the third quarter of 2018 stood at 132.73, 2.68 points higher than that of last quarter.The coverage, availability and mobility of financing services for SMEs kept improving during this period with mobility rising particularly fast.

The price index under it stayed at 101.69, 2.36 points lower than the figure in the second quarter of 2018.

In terms of the service index, the availability index under it enjoyed a slight rise in the third quarter of 2018 and the quality index under it reached 110.67, 3.35 points higher than that of last quarter, indicating the capability and level of China's financial institutions to serve SMEs continued to improve.

The development index in this period was 52.89, 2.52 points lower than that of last quarter influenced by the decline in the order index but still above the threshold, indicating an optimistic development trend.

The business index in this period was 56.43, 1.63 points higher than that of last quarter. The business environment for China's SMEs continued to be optimized with the implementation of related policies and measures.

These indexes show that financial problems faced by China's SMEs have got some relief and the development and business environment for them has been improved to some extent, noted Gan Li, head of the Research Institute of Economics and Management at the Southwestern University of Finance and Economics.

According to Zhang Liyun, a researcher at the Minsheng Research Inistitute of the China Minsheng Bank (CMBC), these indexes indicate that operation of China's SMEs may pick up in 2019. (Edited by Gu Shanshan)

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Keyword: inclusive-finance China-SMEs Xinhua-index

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