China’s enterprise credit index rises to 161.32 in August

The composition of the gain matters more than the headline level: improvement concentrated in the operating and regulatory sub-indices, with fewer firms entering the abnormal operations list and more exiting, points to cleaner compliance behaviour rather than a broad demand recovery. That distinction affects how much of this reads as genuine business-health improvement versus stricter enforcement and cleanup of legacy problem firms. Whether the exits keep outpacing new additions, and whether the credit-risk share continues falling, is the open question.