Hundreds of millions of Chinese citizens have been largely confined to their homes since late January, leading to empty restaurants and retail shops, canceled vacations and closed manufacturing facilities that still have to pay salaries and overhead costs
As the fast-spreading coronavirus has damped sales, hurt worker productivity and halted operations at companies across China, private businesses that make up a large and crucial part of the economy have been among the worst hit.
Even before the latest epidemic, many were feeling the pinch from slowing household-spending growth and banks’ reluctance to lend to businesses not backed by the state. Debt defaults and corporate bankruptcies were rising as regulators closed off funding avenues that many entrepreneurs relied on, such...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This European company isn’t sugarcoating its coronavirus problemThe maker of Absolut vodka isn't sugarcoating its coronavirus problem. The company cut its annual profit growth outlook as it said China’s coronavirus epidemic was likely to have a “severe” impact on its third-quarter performance.
Read more »
Coronavirus inflicts growing toll on China's health workersThe new coronavirus is taking a toll on Chinese health workers as authorities report more than 5,000 new cases, including more than 120 deaths
Read more »
Coronavirus hits Chinese health workers as economy limps back to lifeAfter being cured of coronavirus, a family was given an all-clear to leave a Beijing hospital
Read more »
Chinese economy clobbered by coronavirus but set to recover soon: Reuters pollThe coronavirus-hit Chinese economy will grow at its slowest rate since the fina...
Read more »
Exclusive: Senior China diplomat concedes challenge of coronavirus, slams 'overreaction'A top Chinese official acknowledged on Friday that the new coronavirus is a deep...
Read more »