China’s NDRC: Economic impact from virus outbreak will be short-term

Lian, Vice Head at China’s National Reforms and Development Commission, the country’s state planner, came out on the wires in the last minutes, announcing additional measures to help combat the negative economic impact of the rapidly-spreading coronavirus.  

Government has told medical face mask manufacturers to expand capacity, excess supply will be bought back as govt reserves

Arranged for 10,000 tonnes of frozen pork to be released to Wuhan whenever necessary

There is increasing downward economic impact due to virus outbreak, especially for consumption.

Economic impact from virus outbreak will be short-term.

Fully capable and confident of minimising economic impact from the virus outbreak.

Will make and introduce hedging policies to offset economic impact, help most vulnerable companies.

Separately, China’s Commerce Ministry Official said that they are guiding medium and small businesses to reopen as soon as possible to increase basic services such as food and shopping.

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