1/4
"Smaller enterprises account for 60 per cent of China's GDP and 80 per cent of urban employment. But they have also suffered the brunt of the economic downturn brought by the pandemic, despite tax and fee cuts from the government."
scmp.com/economy/china-… via @scmpnews
"Smaller enterprises account for 60 per cent of China's GDP and 80 per cent of urban employment. But they have also suffered the brunt of the economic downturn brought by the pandemic, despite tax and fee cuts from the government."
scmp.com/economy/china-… via @scmpnews
2/4
Lower fees and taxes, easier credit, better infrastructure, and other supply-side measures can help private-sector businesses if their problem consists mainly of high costs, scarce or expensive credit, or other constraints on their abilities to serve burgeoning demand.
Lower fees and taxes, easier credit, better infrastructure, and other supply-side measures can help private-sector businesses if their problem consists mainly of high costs, scarce or expensive credit, or other constraints on their abilities to serve burgeoning demand.
3/4
This was certainly the case during most of the past four decades. These same supply-side measures cannot help, however, if the main problem is weak demand, which seems to have become the case in the past several years.
This was certainly the case during most of the past four decades. These same supply-side measures cannot help, however, if the main problem is weak demand, which seems to have become the case in the past several years.
4/4
But while the problems facing smaller, private sector businesses seem to have changed, the kinds of solutions offered by local governments don't seem to have.
But while the problems facing smaller, private sector businesses seem to have changed, the kinds of solutions offered by local governments don't seem to have.
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