KUALA LUMPUR, Oct 17 (Bernama) – China's small-and micro-sized enterprises (SME) showed improved availability and quality of financial services in the second quarter of 2018, according to the CCB-Xinhua Inclusive Finance-SME Index.
The index was inaugurated in Beijing recently and is jointly compiled by the China Construction Bank (CCB) and China Economic Information Service (CEIS) under Xinhua News Agency.
It includes four sub-indices; financing index, service index, development index and business index.
According to CEIS in a statement, the index reflects the capability of Chinese financial system to provide convenient service at reasonable prices for SMEs and depicts the running situation and development status of inclusive finance for SMEs.
In the second quarter of 2018, the development index and the business index for SMEs stayed at 55.41 and 54.80, respectively – both higher than the critical threshold of 50 and indicating the booming situation in the two fields.
Vice president and secretary general of Xinhua News Agency, Liu Zhengrong said Xinhua will continue to report China's policies and measures for developing inclusive finance and local experience and achievements in practice all over the country.
Xinhua will also integrate all of its media resources and specialized think-tank teams to provide services for financial institutions like CCB and contribute to China's inclusive finance development.
Chairman of CCB, Tian Guoli said that in the area of inclusive finance, there are still many theoretical and practical problems to be solved and the CCB-Xinhua Inclusive Finance-SME Index gives full play to the strength of all sectors of society.
-- BERNAMA
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