Nearly half of China's SMEs resume work amid epidemic

Around 45 percent of China's small and medium-sized enterprises (SMEs) had resumed work by March 2 as the country promoted orderly reopening of companies amid the novel coronavirus disease (COVID-19).

The work resumption rate of SMEs posted steady growth, rising from 32.8 percent as of Feb 26, according to the Ministry of Industry and Information Technology (MIIT).

Efforts should be strengthened to further assist SMEs to resume work and stabilize production and operation, said Xin Guobin, vice minister of the MIIT, noting SMEs' comparative weakness in capital, risk resistance and resource allocation.

The ministry plans to enhance classified guidance and take all measures to ease the difficulties of SMEs to accurately promote orderly work resumption of the companies based on local conditions and risk levels.

China has issued an array of policies to help SMEs weather the epidemic outbreak, such as deferring loan and interest payment, cutting tax and fees, social insurance contributions and rent, offering low-interest lending and facilitating employment and training.