国内英语资讯:Commentary: Coronavirus outbreak wont shake Chinas economic fundamentals_时事

国内英语资讯:Commentary: Coronavirus outbreak wont shake Chinas economic fundamentals

After the epidemic is brought under control, retail and consumption activities are expected to heat up and make up for the losses incurred during the quarantine period.

The sound fundamentals of the Chinese economy are unshakable amid the epidemic. But that should not be the excuse for optimism without caution.

During his Monday tour, Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called for greater efforts to minimize the impact of the epidemic on the economy and strive to achieve this year's economic and social development goals and tasks.

Supportive measures have been taken. The central bank has added a total of 1.7 trillion yuan into the banking system to boost liquidity and stabilize financial markets.

The central authority rolled out a favorable policy for small and micro-sized businesses, with supplies of power and raw materials, logistic services, and financial assistance put into place to help them resume production soon.

Small-and-micro-sized companies are significant contributors to the Chinese economy, providing around 80 percent of employment, over 60 percent of GDP, and more than half of the tax revenue. Swift and targeted supportive policies should help avert widespread bankruptcies and large-scale layoffs, which are detrimental to Chinese society.

A batch of companies has carefully resumed work, and more will do so in the coming days. Social and economic operations are awakening from their time off due to the epidemic. Confidence should be restored that the coronavirus outbreak will leave the Chinese economy unscathed in the long-run.