China SME confidence continues to improve amid stabilizing economy

BEIJING - China's small and medium-sized enterprises (SMEs) showed improving business confidence in November as the country's economy is stabilizing amid policy support, a report showed.

The China SME Confidence Index rose to 54.7 in November from 54.5 in October, rising for the second consecutive month, according to a report from Standard Chartered Bank.

The sub-indices of current performance and credit environment edged up from last month. The manufacturing sector, in particular, reported robust production and new orders.

China' central bank implemented two targeted reserve requirement ratio cuts in October and November to boost financing for SMEs.

The reported said about 59 percent of the surveyed SMEs expected the RMB exchange rate to stay stable in the next three months.