On December 31 2019, China reported to WHO several cases of unusual pneumonia in Wuhan, a port city of the central Hubei province with its 11 million population. The virus was unknown. The horror of the coronavirus outbreak in China has unfolded from January to the very end of March all over the country. China has brought strong measures in order to contain the epidemic. Since mid-March the spread of Covid19 has slowed down and even stopped over the few days in China. China seems to be successful in containment of the virus while it has just started to revise the economic damage has been done by the outbreak. Corollary with this, the Chinese government has decided to initiate a comprehensive package for especially the small and medium sized enterprises. The package of macro policies and measures will be introduced, the meeting noted, and China will appropriately raise the fiscal deficit ratio, issue special treasury bonds, increase the scale of special bonds for local governments, and guide the interest rate to decline in the loan market. Moreover, amid the country's efforts to contain the COVID-19 outbreak, expenditure on health saw double-digit growth, up 22.7 percent year on year in the first two months, and spending on social security and employment also logged a 2.5-percent expansion from the same period last year. [1]
The Chinese president Xi Jinping said that China will roll out more targeted measures to help small and medium-sized enterprises hit by the COVID-19 outbreak restart production and further develop.[2]
According to Xinhua News agency, the Education in China has also started to get back on the track more schools has been reopened over the last week.[3]
In our interviews with people who live in China, we have asked about situation in China. According to the information we have obtained from people who live in Tianjin and Shanghai, the life in China has resumed such as reopening of restaurants, small markets and some shopping malls. However, China is still taking precautions in order to prevent a second wave of epidemic in China. For example, wearing masks is recommended and at most only one person can have meal at the table in restaurants.
Consequently, in view of the rapid spread of COVID-19 across the world, China has decided to temporarily suspend the entry into China for foreign nationals holding visas or residence permits still valid to the time of this announcement, effective at 12 a.m., March 28, 2020.[4]
China is fully focused on recovering its economy at the same time trying to help countries around the world hit by the Covid19. Its help scale change from one country to another. For instance, it sends both medical equipment and medical experts some countries such as Cambodia, Myanmar, Venezuela, Croatia, Serbia, Italy and so on. It also sent some medical equipment the United States in order to support its fight against COVID19. Although, it is difficult to predict how long this pandemic will occupy the world it is not difficult to see that the economy of many countries will suffer greatly in this process. With regard to China, its economy has suffered a lot during this process but the Chinese government is resolute to restore the damage has been done by the pandemic. In the online meeting of G20 summit president Xi emphasized on international solidarity and China's large-scale assistance to other nations in the fight against COVID-19 while, as it has been mentioned above, he also introduced a comprehensive recovering package for the Chinese economy.
All in all, the COVID19 will occupy a crucial place and loom large both in global economy and politics and as the second largest economy in the world China will be in the center of these unfolding events.
[1] Xinhua, Economic Watch: China pledges stronger macro policies to offset economic impact of COVID-19, March 30, 2020, http://www.xinhuanet.com/english/2020-03/30/c_138932188.htm
[2] Xinhua, “China to give more support for businesses hit by COVID-19: Xi,” http://www.xinhuanet.com/english/2020-03/30/c_138932136.htm
[3] Xinhua, “China sees more schools reopen,” http://www.xinhuanet.com/english/2020-03/30/c_138931029_6.htm
[4] Ministry of Foreign Affairs of the People's Republic of China, News Bulletin of the Commisioner’s Office, March 26, 2020, http://www.fmcoprc.gov.mo/eng/zxxw/gsxw/t1762375.htm
