China braces for inevitable big hit to economy from virus, says Xi

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    BEIJING (Reuters) – China will step up policy adjustments to help cushion the blow to the economy from a coronavirus outbreak that authorities are still trying to control, President Xi Jinping was quoted as saying on Sunday.

    Chinese policymakers have rolled out a raft of measures to support an economy jolted by the virus, which is expected to have a devastating impact on first-quarter growth.

    The situation is showing a positive trend after arduous efforts but there is no room for “weariness and relaxed mentality” among officials, state television quoted the president as saying.

    “At present, the epidemic situation is still severe and complex, and prevention and control work is in the most difficult and critical stage,” Xi said.

    “The outbreak of novel coronavirus pneumonia will inevitably have a relatively big impact on the economy and society,” Xi said, adding that the impact would be short-term and controllable.

    Read more : Reuters

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