Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Economy

Over 90 pct of SMEs in China resume operation: ministry

May 20, 2020


Abstract : About 91 percent of China's small and medium-sized enterprises (SMEs) had resumed operation as of Monday after disruptions caused by COVID-19, official data showed.

BEIJING, May 20 (Xinhua) -- About 91 percent of China's small and medium-sized enterprises (SMEs) had resumed operation as of Monday after disruptions caused by COVID-19, official data showed.

Some 93 percent of SMEs in the manufacturing and construction sectors had resumed work, while around 87 percent of SMEs in the hotel and catering sectors restarted business, said Huang Libin, a spokesperson for the Ministry of Industry and Information Technology (MIIT), at a press conference Wednesday.

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

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 (around 400 billion U.S. dollars) to firms, especially micro, small and medium-sized enterprises as well as individual businesses, noted Miao Wei, head of the MIIT.

The country will continue to implement policy incentives and step up financial support for SMEs, while helping them to develop expertise in specific fields, Miao said. Enditem

Scan the QR code and push it to your mobile phone

Keyword: SME

Reading:

Thai Energy Ministry to roll out measures to help private sector affected by COVID-19

Economic Watch: China seeks to boost industrial chain resilience amid COVID-19 strains

SME Bank suspends principal repayment, lowers loan rate amid epidemic

Weil: SMEs also benefit from artificial intelligence

China takes sweeping measures to ensure financial stability amid epidemic

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial