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China's economy will ride out coronavirus pressure, say experts as business activities resume

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BEIJING (China Daily/ANN): The Chinese economy is expected to ride out the pressure brought by the novel coronavirus outbreak and maintain strong economic growth by global standards this year, economists said on Thursday (Feb 6).

They commented after economic activities began to regain vitality despite the ongoing epidemic, with normal production gradually resuming and market expectations brightening.

On Thursday, the General Office of the Ministry of Commerce released a notice that pledged to support nationwide commercial enterprises, such as wholesale markets, supermarkets and convenience stores, to resume business as soon as possible and fully meet residents' needs for necessities. More regions, except for those severely affected by the epidemic, are expected to resume full production in the near future while taking stringent measures to combat the virus in the workplace, said Yang Weiyong, an associate professor of economics at the University of International Business and Economics in Beijing.

"Whole-year economic growth is likely to land at no lower than 5.6 per cent, maintaining its comparative stability in a disorderly global economy," Cheng said.

 

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