Chinese SMEs continue recovery momentum amid policy support

China's small and medium-sized enterprises continued their recovery momentum in August, as a package of government policies to stabilize the economy took effect, an industry index showed.

The Small and Medium Enterprises Development Index, calculated based on a survey of 3,000 SMEs, came in at 88.3 last month, same as the level registered in July, said the China Association of Small and Medium Enterprises.

The index contains multiple sub-indexes to gauge the performances and expectations of SMEs.

The sub-index for accommodation and catering went up 0.3 points in August, marking the most significant increase among all sectors tracked. The sub-index for industry went up 0.1 points, reversing a decline seen in July.