China Smaller Businesses Need More Support Through Covid: Times

Smaller businesses in China are calling for greater support from the government to deal with the impact of anti-Covid measures, the Securities Times reported. A week-long lockdown in Shenzhen, one of China’s top four megacities, has caused prolonged difficulties to SMEs and the service industry, and rescue measures should be strengthened including considering direct cash support, the newspaper said citing a market source. Shenzhen has cut rents, lower social security costs, subsidize corporate spending on disinfection and increase financing guarantee support, but some businesses said the measures are not strong and targeted enough, the newspaper said.