Survey: Small firms upbeat on prospects

CHINA'S small and micro businesses foresee better growth prospects with confidence among business owners improving, a latest industry survey showed.

The index tracking the growth prospects of China's small and micro enterprises in the first half of 2012 grew to 102.86 points from the benchmark of 100 in the second half last year, a joint survey released by the Bank of Communications and Fudan University showed yesterday.

The study covered small business owners in 21 Chinese cities.

Sub-indices tracking efficiency and confidence also improved, suggesting less operating risks for such businesses.

A drop in export volume and economic restructuring have squeezed small and micro businesses in southwest China, according to the survey.

From the industry perspective, an increase in agricultural products boosted the performance of forestry and fishery companies. However, weak exports also hurt textile and apparel manufacturers.

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