China's SMEs see stable recovery Xinhua 05 May 2021, 18:05 GMT+10 BEIJING, May 5 (Xinhua) -- The vitality of China's small and medium-sized enterprises (SMEs) improved in the first quarter of the year as the economy further recovered from the impact of COVID-19, per the latest industry data. The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs, increased 0.5 points to 87.5 in the first quarter and hit its highest level since the same period of last year, according to the China Association of Small and Medium Enterprises. The index contains multiple sub-indexes to gauge the performances and expectations of SMEs. A reading above 100 reflects an upward trend in business while a reading below 100 indicates dented vitality.