China's small and medium-sized enterprises (SMEs) reported steady recovery in the first half of 2024, with the total value added by SMEs with annual revenues over 2.8 million U.S. dollars rising by 7.4 percent year on year, according to the latest data from the Ministry of Industry and Information Technology.
From January to June, SMEs using specialized technologies to produce novel and unique products saw continuous growth. In particular, "little giant" firms, new elite SMEs specializing in niche markets with advanced technologies and strong potential, experienced a 9.3 percent increase in electricity consumption compared to the same period last year.
Out of the 31 major manufacturing sectors in China, 23 saw a rise in total profits for SMEs in the first six months of the year, with the proportion of growing sectors increasing by 6.5 percent compared to the first quarter, the ministry's data showed.
The equipment manufacturing and consumer goods manufacturing sectors saw profit growth of 5.0 percent and 11.4 percent from the same period last year, respectively, with growth rates accelerating in the second quarter compared to the first quarter.
In terms of exports, Chinese SMEs also show promising prospects, with the export index reaching 52.8 percent in the second quarter.
China's SMEs report steady recovery in H1
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
