The government’s relief measures released during the recent COVID resurgence have substantially helped local small and medium-sized enterprises like Shenzhen MemsFrontier Electronics Co. Ltd., which has grown into a leading enterprise in niche markets.
The company, established in 2015 in Guangming District, was accredited as one of the 169 “small giant” enterprises in Shenzhen by the Ministry of Industry and Information Technology in 2021. A “small giant” refers to small and micro-sized enterprises with great growth potentials specializing in niche markets for mid- and high-end industries like next-generation technologies, high-end equipment manufacturing, new energy, new materials and biopharmacy.
MemsFrontier is a leading MEMS sensor solution provider in China and one of the major global suppliers of thermopile temperature sensors and NDIR gas sensors.
The company has around 80 employees and delaying payment for employees’ social insurance will definitely relieve its burden, said Hong Yu, manager of the company’s R&D department. The government will exempt three months’ rent and cut them in half for the next three months, which will further reduce the company’s operational costs.
The company’s R&D employees account for around half its total employees, and during the lockdown, they worked from home and ensured the company’s normal operation. “The impact of COVID on our company is controllable, thanks to the efforts of the government and the enterprise,” said Zhang Yun, director of MemsFrontier’s human resources department.