China Economic Weekly
China’s employment market will face massive pressure throughout the year, in the first quarter and second quarter in particular, amid global pandemic outbreak, which threatened the survival of small and medium-sized enterprises (SMES) that provide more than 80 percent of the job opportunities in the Chinese market, analysts said. To support SMES, the State Council has prioritized financial support.
In March, the People’s
Bank of China allocated a $42.5-billion special re-lending quota, half of which went to SMES and micro businesses. Meanwhile, a $71.4-billion re-lending and re-discount quota is helping an increasing number of micro, small and medium-sized firms to get loans.