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Researcher Li Quan at Research Institute for Fiscal Sciences, the Ministry of Finance
The release and application of “Economic Daily-PSBC Small and Micro Enterprise Operating Index” (hereinafter referred to as “SMEOI”) is quite pragmatic and forward-looking. As a targeted and professional index, it gathers data from different sources and various industries. So far, it can be seen as the most comprehensive and thorough operating index for small and micro-sized enterprises (SMEs) in China.
Seen from the index design, it’s difficult to obtain the statistical data about SMEs and the varying design viewpoints on statistical method prevail in China. As a result, the country falls short of SME information statistics for a long time and sees the discrepancy in statistical results. After an arduous construction process and a long period of model design and expert argumentation, an SME operating index with both macro and micro characteristics took shape. In terms of industry, it almost covers most industries related to the small and micro-sized field. The listing of the wholesale and retail industry and the accommodation & catering industry especially highlighted the small and micro characteristic of the index. In the aspect of region, it has wide coverage and comprehensive sub-regional indices, which provides basic data and analysis for China’s regional economic development and urbanization. In addition, the index system not only covers the entire process of SMEs in purchasing, production, sales, expansion and financing, but also includes the performance evaluation indicators and even the confidence index of SMEs owners, thus capable of showing the all-around operation of SMEs and providing the basic data for analyzing the whole industry chain of SMEs.
From the frame to the details, the index system provides the basis for the strategic layout and business planning of China’s SMEs and offers the objective, detailed and meticulous data for numerous SMEs and researchers in China.
The construction and wide application of SMEOI will not only help banks to effectively monitor the credit risk and achieve the whole-process risk control in credit business, but also is conducive to identifying SMEs with great potential and excellent growth. At the same time, it also can provide the first-hand, accurate data for industry authorities and top-level designers as decision-making basis and give impetuses to the stable growth of small and micro-sized businesses.