The impact of the global pandemic on
small and medium-sized enterprises runs deep, with factory shutdowns, supply chain disruptions and supply shortages in many parts of the world. But for SME manufacturers in China, Covid-19 has given them cause for a rethink about the need for greater agility, less wastage and a more consumer-centric approach.
Such a change is needed to tackle long-standing structural issues in the manufacturing sector. While Covid-19 will pass, fundamental problems in the industry will remain. Addressing them is hugely important. SMEs are the backbone of the global economy – creating jobs, driving trade and fuelling growth. In China,
SMEs account for over 80 per cent of urban employment and more than 60 per cent of gross domestic product.