Small and micro businesses are the backbone of China’s private sector. Photo: AP
Small and micro businesses are the backbone of China’s private sector. Photo: AP

Explainer |
China’s SMEs: how important are small firms to the economy, and what challenges are they facing?

  • Small and medium-sized enterprises contribute substantially to China’s economy, including about 80 per cent of non-government employment
  • Since the start of the coronavirus pandemic, they have faced numerous challenges, from rising production costs to regulatory tightening

Small and micro businesses are the backbone of China’s private sector. Photo: AP
Small and micro businesses are the backbone of China’s private sector. Photo: AP
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