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.
The new coronavirus has not yet peaked but is already having serious impacts on the people and businesses of Wuhan and China. Zaobao correspondent Yang Danxu looks at the micro and macro effects of the epidemic, from personal accounts to medical and economic forecasts, in this big read on Wuhan.
Shanghai correspondent Yang Danxu observes that domestic consumption in China is getting a second wind from “first store” openings and a “China cool” wave led by time-honoured brands that have found the sweet spot between the old and new.