Domestic Demand Insufficient - Industry Body

China’s SME firms face insufficient demand and declining profits, according to the China Association of Small and Medium Enterprises. The associations’ Small and Medium Enterprise Development Index (SMEDI) for April was 89.0, a decrease of 0.3 points from the previous month, with declines noted in industrial, transportation, real estate, and social service sectors. Increases were recorded in the catering industry, while wholesale and retail industries remained unchanged. China must do more to deepen reform and open up in order to stimulate economic growth and consolidate the economic recovery, the association said. (Source: 21st Century Herald)