COVID effect: 2.47 lakh Chinese firms go bankrupt in Jan-Feb

With the coronavirus crisis severely hurting the Chinese economy and businesses, a report has suggested that around 2.47 lakh companies in the country have declared bankruptcy during the first two months of 2020.  Guangdong was the most impacted province, with over 30,000 companies going out of business in January and February, followed by Shandong.

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