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Some Chinese startups spot new market opportunities amid Covid-19 gloom

  • China
  • 5 min read
  • May 26, 2020
  • By Wang Xiao'e

Image: Shutterstock

Crises create opportunities for startups to pivot and innovate, as Covid-19 is showing

Around 460,000 businesses in China went bust during the first quarter of 2020 as the coronavirus outbreak and ensuing lockdown plunged the country's economy into its first contraction since 1976. However, many startups have also adapted to the challenging conditions and offline business closures by tweaking their products, services and even business models.
While some of the adaptations were initially intended to help local residents or frontline healthcare workers cope with the pandemic, startups have discovered other promising business opportunities that not only helped them stay afloat d...

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Edited by Matt Stanley

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