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In September, the China SME services index compiled by Caixin and Markit rose to 53.4 points from 46.7 points in August, thus catching up with the expansion phase. The figure is in fact higher than 50 points, the dividing line between the phase of contraction – values below – and values above. August was the worst since the outbreak of the Covid-19 pandemic last year. The figure was also better than the estimates: analysts had in fact forecast a recovery limited to 50.7 points. Composite SMEs also recovered compared to August, rising to
51.4 compared to the previous 47.2 points.