What is the impact of the epidemic on Chinas economy? The voice of these international organizations and experts

category:Finance
 What is the impact of the epidemic on Chinas economy? The voice of these international organizations and experts


President of the International Monetary Fund: full of confidence in the resilience of Chinas economy

International Monetary Fund (IMF) President Christina Georgieva said in a social media message Wednesday that the IMF supports measures taken by the Chinese government in response to the epidemic in recent times, including the financial, monetary and financial fields. The Chinese economy continues to show great resilience and we are confident, she said On the 4th, Georgieva also uploaded a video on social media, saying in Chinese: come on China! Come on, Wuhan!

Spokesman for the International Monetary Fund: the adverse impact of the epidemic on Chinas economy is temporary

Gri rice, a spokesman for the International Monetary Fund, said that some of the adverse effects of the epidemic on Chinas economy were only temporary. After the epidemic eased, relevant economic activities returned to normal operation, and the economy could be restored. China has a large economy, resources and determination to effectively respond to the challenges posed by the epidemic. Details

Foreign experts: the impact on Chinas economy will be short-lived

According to many foreign experts and international institutions, although the impact of the outbreak on Chinas economy is inevitable, its long-term impact is limited.

Roach believes that Chinas economic growth in the first quarter of 2020 will be significantly affected. The impact on supply chain and retail industry caused by the intercity (provincial) traffic restrictions introduced to control the epidemic will have a certain impact on Chinas economic growth in the short term.

But the Chinese government, especially the central bank, has many policy tools available, and the central bank has provided liquidity support to the market. When the impact of the epidemic is reduced, liquidity tools will help the economy rebound rapidly.

According to Huang Tianlei, a researcher at the Peterson Institute for international economics, the outbreak may have a temporary impact on Chinas economy, but its impact on Chinas economic growth throughout the year should not be overstated. The impact will be mainly in the first quarter of this year, and the impact on growth throughout the year is likely to be quite limited.

According to Kenneth Rogoff, an economics professor at Harvard University, based on similar cases in the past, the most likely scenario is that the crisis will prove temporary and the economic impact will be contained, we can hope for that.

Strategic analysts in charge of asset allocation in the Asia Pacific region at UBS global wealth management have not changed their views on emerging market stocks, especially Chinas, at the beginning of 2020, Barrons website said Monday. Their consensus is that the impact on Chinas economy will be short-lived - as long as the epidemic is under control, it will not derail the global economy.

The Chinese government has issued measures to further strengthen financial support in response to the epidemic

On February 1, the Circular of the foreign exchange bureau of the Securities Regulatory Commission of the peoples Bank of China, Ministry of finance of the peoples Bank of China, on further strengthening financial support to prevent and control the new coronavirus infection of pneumonia was issued, focusing on strengthening monetary and credit support, maintaining reasonable and sufficient liquidity, strengthening financial support for key medical and living material production enterprises, and better meeting the normal needs of the people The demand for financial services provides strong support to win the prevention and control of the epidemic and to maintain the overall situation of economic stability and development.

From February 3 to 4, the peoples Bank of China invested 1.7 trillion yuan in the open market reverse repo operation for two consecutive days to ensure sufficient liquidity supply and fully demonstrate the determination of the central bank to stabilize market expectations and boost market confidence.