China Company Registrations Plummet During Covid Lockdowns
- Economist warns China could face ‘lost generation’ of firms
- New companies seen as key to China’s productivity growth
Motorists travel along a road past barriers during restrictions in Shanghai, on June 13.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s new registrations for companies have fallen sharply in recent months, a sign of how the country’s coronavirus lockdowns could have long-term implications for economic growth.
Some 2.3 million businesses were registered nationwide from March through May, down 8% from the same period a year earlier, according to data from Chinese company registration service Tianyancha. April saw the steepest drop at close to 19%.