China's Policies to Support SMEs in Resuming Work and Production
  • 2020-04-15
  • Entrepreneurship Research Center on G20 Economies
  • Edit
  • As the domestic situation is getting better with the notable results in the COVID-19 prevention and control, Chinese governments at various level promote the enterprises to resume work and production while continuing their effort in prevention and control. Small and medium-sized enterprises (SMEs) are the primary source of jobs and a crucial link in the industrial chains, so supporting SMEs to resume work and production is an essential step to boost economic growth, stabilize employment, and get the social lives back to normal.

    Compared with larger enterprises that are more capable of coping with various challenges, SMEs are more vulnerable to changes in the external environment. As a result, most SMEs were confronted with more outbreak-related hardships, including shortage of workforce, problems in the financial and industrial chains, difficult access to the information, and lack of protective materials and prevention measures. And in addition, to balance resumption of production with epidemic control efforts is a big challenge to most SMEs.

    Governments at various levels have taken multiple measures to help SMEs resume the work and production in an orderly manner, through synchronizing efforts of multiple departments, ensuring businesses in the industrial chains to restart in a coordinated step, and innovating the targeted and effective services for SMEs. Great importance has also been attached to promoting the internal drive of SMEs to digital transformation, which is considered as an expressway to restore vitality. According to statistics, the work resumption ratio of the SMEs nationwide was about 29.6% on February 23rd, and 76.8% by March 29th, which indicates a steady increase.

    The targeted policy measures were collected from central and provincial governments on the following aspects: solve the shortage of workforce, ease the financial burden, provide the "grassroot-level" and "one-stop" services, encourage the digital transformation and guarantee the safety of resuming work and production.




  • Partners

  • Global Health Innovation Center (GHIC)
  • World Intelligent Incubation Network (WIIN)
  • National University of Singapore
  • Canada-China Institute For Business & Development
  • TusPark Research Institute for Innovation
  • Cross-strait Tsinghua Research Institute
  • Tsinghua X-Lab

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