COVID-19’s impact on China’s small and medium-sized businesses
- Impact Area
Since the COVID-19 outbreak began in Nov. 2019 in Hubei Province, China, business activity in the world’s second-largest economy has ground to a halt. China’s small and medium enterprises (SMEs), which generate 90% of employment, constitute 80% of exports, and account for 70% of GDP, have been hit particularly hard.
To gauge the impact of COVID-19 on SMEs, in early February, the Enterprise Survey for Innovation and Entrepreneurship in China (ESIEC) team, led by Peking University, did a rapid follow-up survey of 2,349 previously sampled SMEs in seven provinces, which are largely representative at the provincial level and the major industrial level for China as a whole.
Read the full article on IFPRI.org at: https://www.ifpri.org/blog/covid-19s-impact-chinas-small-and-medium-sized-businesses