"We are confident that China will not only overcome the difficulties and win the anti-epidemic battle, but have the ability to minimise the impact of the epidemic on the economy," said Wang Renrong, executive director of Budweiser Brewing Co .
Since China has amounted several measures to mitigate the impact of coronavirus outbreak on its economy, including financial support from banks and cuts in taxes and rents, Philips is encouraged by these measures, and will mobilise its local and global resources to ensure its manufacturing operation and innovative activities, said Andy Ho, CEO of the company.
"Based on the experience from the SARS crisis in 2002-03, we can foresee a quick rebound of the Chinese economy in terms of recovery of inventory, restocking demand, uplift of consumption of goods and services after the freeze," said Denis Depoux, managing director for China of global consultancy Roland Berger.
The government will prioritise demand for product of foreign-funded enterprises that produce protective goods and equipment such as medical protective clothing, facial masks and goggles, to promptly resume production and meet the market demand, as well as help them gain necessary protective materials, said a circular unveiled by the Ministry of Commerce on Monday.
Source: News Formal (newsformal.com)
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