SMEs are as a rule more exposed to disruptions in the economy and the COVID-19 pandemic was no exception: SMEs were the first to be hit and the last to recover. The Shanghai lockdown in spring 2022 proved particularly devastating to small businesses in the city and beyond.
The disruptions in business operations and increased uncertainty have prompted policymakers to take new measures and regulations to support the economy. In addition, 2021 saw the publication of the 14th Five-Year Plan for the Development of SMEs, which sets the agenda for future SME-related policies and regulations for the next half a decade.
The infographic sums up some of the key facts and figures of our Advocacy publication SMEs in China: Policy Environment Report 2022.