“Under the epidemic situation, bankruptcies have become commonplace. Business owners wailed and the media repeatedly reported misfortunes. Some people are wondering, is it really so miserable? The fact may be that those that would “die” anyway would now “die” even faster, and those that were struggling to be alive would also “die”.
According to the “Wu Xiaobo Channel Xiao Report” data, 247,000 enterprises were cancelled and closed in the first two months of 2020. Among the data, the number of closed enterprises in Guangzhou, Shandong, and Jiangsu ranked among the top three. In addition, according to the data from Tianyan, during the period from February 1 to March 25, 154,000 enterprises across the country were cancelled (from the registry), and Shandong was the province with the largest number of cancelled enterprises.”
Company Cancellation Situation, January to February 2020
| Industry | Cancelled companies | Percentage of cancelled companies |
|---|---|---|
| Wholesale & Retail | 85,000 | 34.4% |
| Leasing & Business Services | 41,000 | 16.5% |
| Scientific Research & Technical Services | 21,000 | 8.6% |
| Manufacturing | 18,000 | 7.3% |
| Agriculture, Forestry, Livestock, Fishery | 17,000 | 6.8% |
| Software & Information Technology | 14,000 | 5.7% |
| Construction | 14,000 | 5.6% |
| Culture, Sports & Entertainment | 7,000 | 2.8% |
| Real Estate | 7,000 | 2.8% |
| Residential & Other Services | 6,000 | 2.6% |
Statistical scope: January – February 2020
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