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

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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