Resumption of coronavirus-hit private enterprises, SMEs quickens pace in China

Resumption of coronavirus-hit private enterprises, SMEs quickens pace in China

The work resumption of the coronavirus-hit private enterprises and small- and medium-sized enterprises (SMEs) has quickened pace, thanks to the positive results of virus containment and supportive measures targeting businesses, officials said at a press conference on Thursday. 

Major and large-scale enterprises have all resumed work, medium-sized enterprises have basically resumed work, and a majority of small firms have resumed work, said Lin Zeyan, director of Research Office, All-China Federation of Industry and Commerce.

91.39 percent of private enterprises have resumed operation, and 49.99 percent of them have resumed 50 percent of the production capacity, according to a report in mid-April, Lin introduced.

"We can clearly see that the recovery of the entire industry and the entire industrial chain is almost simultaneous. Among them, the resumption rate of tertiary industry enterprises reached 89.97 percent, an increase of 8.21 percentage points from the end of March," said Lin.

Major and large-scale enterprises have played an active role in driving the overall resumption of industrial chains. "Large-scale enterprises have basically returned to normal, and 57.84 percent of them have recovered over 80 percent of the production capacity," Lin added.

As of Tuesday, 99 percent of major industrial enterprises have resumed work and production, and 94 percent of employees have returned to work, said Xu Kemin, director of the Department of Industrial Policy of the MIIT.

Click here for more.