Small Chinese businesses are cautious about prospects in the world’s second-biggest economy amid a manufacturing contraction in recent months, China Daily reported Monday, citing a bank survey. The Standard Chartered Bank China SME Confidence Index hit 52.04 for the second quarter this year, down 4.47 from the previous three months. The fall came after a surge in the first quarter and highlights concerns about economic conditions despite measures by Beijing over the following months. All five sub-indices of the survey fell in varying degrees during the period, the report said.
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