How China's Small and Medium-Scale Manufacturing Industry Can Revive in the Post-Epidemic Era

Abstract

The recovery of SMEs in the manufacturing sector is significant to rescuing China's real economy. Some researchers have analyzed the difficulties and causes of SMEs in the manufacturing industry in the post-epidemic era from the whole production supply chain and proposed countermeasures at the enterprise level. Still, there needs to be more in the actual situation of SMEs and government intervention. Therefore, this study uses questionnaires and interviews to analyze the data of SMEs in the manufacturing industry and related government staff in Henan Province and Hebei Province. It is found that the disruption of raw material supply, the reduction of the demand side, and the sluggish business environment brought by the epidemic have caused SMEs to face difficulties such as increased operating costs, capital and logistics chain exercise, etc. The government can recover the manufacturing industry as soon as possible in the post-epidemic era by reducing taxes, providing subsidies, and other financial support by the government in conjunction with improving financing capacity and digital transformation by SMEs.