China’s private firms have taken an especially hard economic hit over the past year, while state-owned enterprises have remained mostly intact or even thrived.
China’s so-called dynamic zero-Covid policy has forced factories and businesses to close over the last two months amid the worst coronavirus outbreaks for two years.
China’s retail sales grew by 6.7 per cent in the combined figures for January and February, while industrial production grew by 7.5 per cent from a year earlier, data released on Tuesday showed.