Further, according to business data platform Tianyancha, since February, more than 28,000 companies across China have expanded their scope to include healthcare-related services and the manufacture of medical equipment such as thermometers and masks, said the supchina.com report. Internet-based firms have also seized the opportunity to grow as people face a new reality in which online classes and virtual meetings have become the norm, it added.

Further, Wu Xiaobo’s report also noted that due to closure of many government offices in January and February, a considerable number of companies in serious financial trouble were unable to file for bankruptcy. As China slowly grinds back into activity starting this month, the report predicts that the number of bankruptcy applications will only rise in the next two months and more companies will go out of business.