Coronavirus: China’s cash-strapped companies were struggling to get paid even before the pandemic hit

In recent years, it was common for Zhejiang-based fabric and furniture manufacturer Xie Jun to wait two or three months to get paid for shipments made to domestic and foreign clients.But now, almost halfway through 2020, he is still waiting to be paid for goods he sold in November last year, as a slowing economy, compounded by the coronavirus pandemic which has severely disrupted trade and supply chains in China and around the world, puts huge pressure on the country’s small factories.“We can…

Read the original article at South China Morning Post