Economy

As the Covid-19 pandemic slows down in China, the panic-buying frenzy goes on. Chen Jing reports on people bulking up on supplies across China amid fears of a looming food shortage.

China is estimated to be making 200 million masks daily and may have too many mask-making factories in the near future. Chinese commentator Cai Enze envisages the likely scenario facing these enterprises scrambling to turn a quick profit out of mask manufacturing. Looking at the statistics, the world needs to better coordinate how these masks can reach pandemic-stricken countries in dire need of masks.

To help businesses get back on their feet, the Wuhan municipal government recently announced that it is raising 20 billion RMB to roll out a rescue package for small and medium enterprises (SMEs). On the ground, many companies find themselves in more dire straits now than when the city was under a complete lockdown, and business owners are generally not confident of surviving the present downturn.

Vincent Martin, Food and Agriculture Organisation of the United Nations (FAO) representative in China and North Korea, shares his thoughts on the Chinese government’s efforts to limit the impact of Covid-19 on agriculture and food security in China. He remains sanguine that the country has enough wind in its sails to see it through this tough period and embark firmly on new beginnings.

After this battle with the Covid-19 coronavirus, each ASEAN country should step up its emergency preparedness and national resilience capacities in dealing with similar pandemics. But health concerns aside, the outbreak also highlights the region’s high reliance on China in economics and trade. As global supply chains realign in the wake of the crisis, Southeast Asian countries should implement bold domestic reforms and vigorously develop their manufacturing sectors to be in the best position to reap the benefits.

Micro, small, and medium enterprises assets account for 77% of the total assets of Chinese enterprises, while their annual revenue contributes 68% of the total amount of annual revenue of Chinese enterprises. Chen Jing, Lianhe Zaobao’s Shanghai correspondent reports that as the coronavirus outbreak in China eases off, SMEs in China are doing their level best to get their businesses up and running again. But the way forward looks to be all uphill.

Cai Enze analyses the anticipated gains of American private equity investment company Blackstone taking Chinese property developer SOHO China private. ThinkChina also takes a look at SOHO, and the high-profile couple behind it.

From the global industrial chain to the Belt and Road Initiative, China's interactions with the world is markedly changing due to the Covid-19 outbreak. East Asian Institute’s senior research fellow Yu Hong says that as the impacts of globalisation are magnified during the pandemic, the world will be reconsidering the consequences of its over-reliance on and deeply entrenched links with China. But are alternatives available?

The Covid-19 pandemic has brought China’s economy to a low point. Economic forecasts for the quarter and the whole year have been revised downward, and the continued spread of the coronavirus across the world will not help the situation. Zaobao correspondent Chen Jing speaks to the experts on what to expect in the next few months.