Sun Yu reports from Beijing
The Chinese government’s hopes for an economic recovery after economic growth slowed last year will depend largely on the animal spirits of small and medium-sized enterprises. Small and medium-sized enterprises, which account for the bulk of output, urban employment and tax revenue, have been hit hard by the pandemic.
Although China’s best-known private companies are tech giants such as Alibaba and Tencent, small and medium-sized enterprises – officially defined as companies with 1,000 or fewer employees – account for about 80% of total employment in China. 70% of a business’ total revenue, making them a valuable asset for any economic…
