Chinese Small Businesses Bearish on Fourth Quarter Due to Virus Restrictions, Survey Shows

Chinese small business owners have weaker expectations for their fourth quarter performance due to sluggish demand and uncertainties around Covid-19 policies, according to a survey by Peking University and fintech giant Ant Group Co. Ltd.

A measure of business confidence among micro and small companies declined to 45.5% for the fourth quarter, the lowest since the first quarter of 2021, according to the survey published Thursday. The online poll queried 20,180 business-owners, with an average of 5.8 workers.