China's industrial SMEs see steady growth

China's small and medium-sized industrial companies showed resilience to economic slowdown, with double-digit growth in both revenue and profits last year, official figures showed on Saturday.

Industrial SMEs reported a 13.9 percent increase in revenue from their main businesses and a 15.8-percent rise in profits, according to the Ministry of Industry and Information Technology.

The data were collected from industrial SMEs with annual business revenue of more than 20 million yuan (3.2 million U.S. dollars) from their main business operations.

While acknowledging their vitality, the ministry warned of daunting challenges including high financing costs and weak demand.

To help SMEs fare better, provide steady jobs and support growth, authorities have adopted policies such as tax breaks to ease their burden.