Over the past two weeks of shutting down factories, the coronavirus epidemic has caused massive trouble for the Chinese economy and companies. On Monday, February 10, 2020, workers began going back to offices and factories as the Chinese government relaxed restrictions imposed due to coronavirus outbreak that has taken more than 900 lives globally. Several factories ranging from tech to automobile companies including Samsung, Tesla, and Hyundai that hold their productions over the weeks would now resume from Monday.
Global Figures of Virus Endemic
The virus outbreak, which was originated from a market selling animals and seafood in Wuhan, the capital of Hubei province, China, has affected globally and at least 27 countries were reported having the cases of the virus.
According to a Reuters count based on official reports, the virus outside China had infected more than 330 people and recently Britain joined as the latest country that declared four cases of the virus. Declaring it a serious and imminent threat to public health, Britain took precautions and adopted measures to fight the endemic in the country.
Reuters reported, as per the report of the National Health Commission (NHC) of China, more 3,062 cases of newly confirmed virus infections were reported on Sunday across mainland China which led to the total number to 40,171 cases with the dead rose to 908 people.
As reported by Reuters, “the death toll of 97 on Sunday was the largest in a single day since the outbreak was detected in December 2019.” With this new development of virus infestations, a team of scientists and experts headed by the World Health Organization (WHO) rushed to Beijing on Monday to examine and get information on the latest figures.
Meanwhile, WHO chief Tedros Adhanom Ghebreyesus expressed worried about “some concerning instances” that involved the transmission of the disease from people who never visited China. He twitted, “The detection of a small number of cases may indicate more widespread transmission in other countries; in short, and we may only be seeing the tip of the iceberg.”
Chinese Factories to Resume Works
Chinese authorities urged the factories and companies in the country to start their productions on Monday and told businesses to add up to 10 extra days onto the Lunar New Year holidays due to the abrupt closing of factories at the end of January 2020. Concerning the wider impact on the world’s second-largest economy, the government raised certain concerns to the country’s investors and banks to lift up the downtrodden economy through global supply chains.
In a move to support the country’s economy, China’s central bank has announced to start introducing several policies and measures including reducing interest rates and flushing the market with liquidity. The bank officials said that it would issue special funds for the country’s banks from Monday so that the banks could invest and re-lend to businesses for fighting economic and financial tragedy caused by the virus.
Several automobile companies that based their operations in China including Tesla, Daimler, and Ford Motor decided to open their factories and restart productions on Monday. Hyundai Motors and its sister company, Kia Motors would resume production on Tuesday.
Many electronic companies such as Taiwan’s Foxconn and Samsung Electronics have resumed productions at their key plants in China while they still suspended opening some of their factories in other parts of the country. Nevertheless, most of the workplaces in the country remained closed and many of them had continued to work from home till Monday.
I’m Roshan, a journalist, blogger and music lover. I like covering global news related to finance, business, and technology. Focusing on the collection of true and reliable information, I rely on working by conducting interviews with business leaders and talking to the inside sources of companies.
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