In China’s industrial sector, “small” firms are those that employ fewer than 300 people and earn less than 20 million yuan a year. Photo: Xinhua
In China’s industrial sector, “small” firms are those that employ fewer than 300 people and earn less than 20 million yuan a year. Photo: Xinhua

China’s smallest firms failing at historic pace as 4.37 million close up shop and registrations plummet

  • Ex-finance minister has said official economic indicators failed to paint accurate picture of economy, and publicly available data did not show how many firms vanished
  • Only 1.32 million new micro and small firms opened in China during the first 11 months of this year, compared with 6.13 million last year

Topic |   China's economic recovery
In China’s industrial sector, “small” firms are those that employ fewer than 300 people and earn less than 20 million yuan a year. Photo: Xinhua
In China’s industrial sector, “small” firms are those that employ fewer than 300 people and earn less than 20 million yuan a year. Photo: Xinhua

Corrected [12:58pm, 7 Jan, 2022]

  • [12:58pm, 7 Jan, 2022]

    The name of the public registry tracking firm has been removed as the data for this story was provided via a third-party. This does not impact the accuracy of the data.

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