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The impact of COVID-19 on small and medium-sized enterprises (SMEs): Evidence from two-wave phone surveys in China.
Dai, Ruochen; Feng, Hao; Hu, Junpeng; Jin, Quan; Li, Huiwen; Wang, Ranran; Wang, Ruixin; Xu, Lihe; Zhang, Xiaobo.
  • Dai R; Central University of Finance and Economics.
  • Feng H; Shanghai University of International Business and Economics.
  • Hu J; Peking University.
  • Jin Q; Shanghai University of International Business and Economics.
  • Li H; Shanghai University of International Business and Economics.
  • Wang R; Peking University.
  • Wang R; Harbin Institute of Technology at Shenzhen.
  • Xu L; Guangdong University of Foreign Studies.
  • Zhang X; Peking University and IFPRI.
China Econ Rev ; 67: 101607, 2021 Jun.
Article in English | MEDLINE | ID: covidwho-1103778
ABSTRACT
This paper examines the short-term and mid-term impact of COVID-19 restrictions on SMEs, based on two waves of phone interviews with a previously surveyed large SME sample in China. The outbreak of COVID-19 and the resultant lockdowns took a heavy toll on SMEs. Afflicted by problems of logistics blocks, labor shortages, and drops in demand, 80% of SMEs were temporarily closed at the time of the first wave of interviews in February 2020. After reining in COVID-19, authorities largely eased lockdown restrictions in April. Consequently, most SMEs had reopened by the time of the second round of surveys in May. However, many firms, particularly export firms, were running at partial capacity, primarily due to inadequate demand. Moreover, around 19% of incorporated enterprises and 25% of self-employed businesses had permanently closed between the two waves of surveys.
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Full text: Available Collection: International databases Database: MEDLINE Type of study: Experimental Studies / Observational study Language: English Journal: China Econ Rev Year: 2021 Document Type: Article

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Full text: Available Collection: International databases Database: MEDLINE Type of study: Experimental Studies / Observational study Language: English Journal: China Econ Rev Year: 2021 Document Type: Article