WEATHERING DIFFICULTIES

Li Jin, General Manager of Tinythings, a media company based in Shanghai, has had a hard time during the COVID-19 resurgence in the city in recent months. The company, which has a dozen employees, was established in 2020 and focuses on making documentaries. Starting from March, all of its filming projects have been suspended.

“The major costs of micro and small enterprises are office rent and staff salaries. Our clients cannot pay us in a timely manner during the pandemic, adding to our financial burdens,” Li told Beijing Review.

Many micro, small and medium-sized enterprises (MSMEs) and self-employed individuals are facing similar challenges. They include disruptions from COVID-19, rising commodity prices, declining market demand, labor shortages, high logistical costs and power crunch, according to Pan Helin, Co-Director of the Digital Economy and Financial Innovation Research Center at Zhejiang University’s International Business School.

“Meanwhile, MSMEs across