- A survey of over 2,000 firms conducted by the Ministry of Industry and Information Technology, cited by Xinhua news agency, says most of China’s small and medium companies have seen profit growth slowing this year as costs rise and financing remains tight.
- Some also report labor shortages
- Small- and medium-sized enterprises (SMEs) account for 60% of China’s GDP & 75 percent of new jobs created in the country
- The ministry proposes cutting tax burdens to help firms
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China survey: Most small and medium companies have seen profit growth slowing this year
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