Govt: 91% of SMEs back in business

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About 91 percent of China’s small and medium-sized enterprises had resumed operation as of Monday amid theCOVID-19 pandemic, official data shows.

Some 93 percent of SMEs in the manufacturing and construction sectors had resumed, while around 87 percent of SMEs in the hotel and catering sectors restarted, Huang Libin, a spokesperson for the Ministry of Industry and Information Technology, told reporters yesterday.

Govt: 91% of SMEs back in business

China has rolled out a series of targeted measures to support SMEs, which were among the hardest hit by the epidemic.

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Policies such as cuts in banks’ reserve requirement ratios as well as special relending and rediscount programs have offered low-cost loans of 2.85 trillion yuan (US$400 billion) to firms, especially micro, small and medium-sized enterprises and individual businesses.

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