10 industries getting hit hardest by COVID-19

By Zhang Rui: 0 Comment(s)Print E-mail China.org.cn, March 27, 2020

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10. Manufacturing

Workers making adhesive tapes for protective suits at a factory in Jiangmen city, Guangdong province, March 25, 2020. [Photo/Xinhua]

In order to prevent the spread of the virus, many enterprises delayed the resumption of work and production for quite some time. After the Spring Festival holiday, many enterprises faced the labor shortages. At the same time, consumer demand reduced, economic activities were interrupted, the time for workers to return to work is not uniform, which have bad impact on the organization of production.

Anyway, this epidemic disrupted the operation plans and schedules of the manufacturing industry. The manufacturing industry is a relatively asset-heavy industry. Even if production and operations are suspended, companies still have to pay social security and taxes and to maintain expenses such as rent, factory building operation, and loan and interest. Many small and medium-sized manufacturing businesses have high debts and short cash flows, and are facing challenges and difficulties.

Luckily, many companies are resuming work and production now while government departments have issued policies to support the industry and ease the pressure. What's more, many enterprises have found new opportunities by manufacturing much needed medical and protective supplies needed in China and other countries.