According to data released by China's Ministry of Industry and Information Technology (MIIT) on August 7, the overall economic operations of small and medium-sized enterprises (SMEs) in China remained stable during the first half of the year, with key indicators maintaining rapid growth and corporate profitability continuing to improve.

In the first half of 2024, the added value of industrial SMEs above the designated size grew by 5.8% year-on-year, while their operating revenue rose by 7.7%, marking the highest level for the same period since 2023. Total profits surged by 16.9% year-on-year, the highest reading for the same period since 2022, indicating a steady improvement in production and operations, alongside a sustained enhancement in profitability.

By industry, among the 31 major manufacturing sectors, 18 reported an increase in total profits for SMEs above the designated size. Sectors such as computer, communication, and other electronic equipment manufacturing, smelting and pressing of non-ferrous metals, and manufacturing of chemical raw materials and chemical products posted relatively faster growth. Upstream and high-tech industries experienced rapid profit growth, providing a notable driving effect.

Meanwhile, the export momentum of SMEs remained robust. Data shows that the SME export index stood at 52.8% in June, marking the 27th consecutive month in expansion territory. Among them, the specialized and sophisticated "little giant" enterprises performed particularly well, with their export delivery value soaring by 21.1% year-on-year in the first half, further strengthening their comprehensive competitiveness.