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Support for SMEs in the COVID-19 crisis: The case of China

By Peter Sanfey,  Jakov Milatovic, Ana Kresic & Radu Cracan

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Strategy implemented by the Chinese government to contain the spread of the virus was successful in limiting community transmission, but it initially caused significant economic hardship, in particular for small and medium enterprises (SMEs).

To mitigate the impact, the authorities initiated an ambitious policy programme early on to support SMEs and help them jump-start their operations once the lockdown was lifted.

This note summarises major policies put in place by the authorities and concludes with important lessons for other countries, including the need for proper implementation of policies, the benefits of tailoring policies to local conditions, and the potential gains from exploring digital solutions. 

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