Coronavirus update: ups and downs

Guangdong added six new COVID-19 cases yesterday, all imported from overseas, four of which were in Guangzhou, and one each in Shenzhen and Foshan. Two cases were discharged. Among the 129 cases still in hospital (120 imported), 35 were light, 88 normal, 2 severe, and 4 critical, according to the Guangdong Health Commission.

Hong Kong confirmed 32 new cases today, taking the city’s total number to 714 (124 discharged), according to the Centre for Health Protection. 

Across the rest of the country, 48 new imported cases were reported (up from 31 the previous day), according to the National Health Commission. 

Related news from China:

  1. China will include asymptomatic coronavirus carriers in its daily figures from tomorrow, the National Health Commission said today. SCMP.
  2. Top official Chen Yixin sums up his experience overseeing the fight against the epidemic in Wuhan, saying there is an urgent need to “modernize municipal social governance” and improve risk-prevention systems. Chen was the official sent into Wuhan by President Xi Jinping after the local leadership was sacked. CPC.
  3. Guangzhou, the provincial capital and home to more than 20 million people, saw its economy contract 21% YoY in January and February. However, retail sales fell by much less (-14%), despite the damage inflicted to shops, accommodation and catering, due to the strength of online shopping, with sales of goods online surging 35.8%, while meal-delivery services rose 43% YoY. Dayoo.
  4. Shenzhen has all 81 of its lending institutions in line on the issue of managing outstanding loans to individuals and SMEs. Basically, the line is that if borrowers are deemed capable of repaying once business operations have resumed, all loan repayments may be deferred until June 30. SZN.
  5. Shenzhen is among the country’s best-performing housing markets as more sales offices reopened across the country in March. Volumes in some cases are surpassing the average levels in the final quarter of 2019. SCMP.
  6. Dongguan has launched a global design tender for its International Business District Central Park and Green Axis, a new 22-hectare “green zone” planned for the Nancheng area. The winners will receive a 1.5 million yuan bonus and, of course, a service contract. DGT.
  7. Hongkongers’ monthly pay could plunge 20% this year as the city reels from the coronavirus pandemic and the lasting impact of the anti-government protests that broke out last summer, job market experts have predicted. SCMP.
  8. Hong Kong home prices had their steepest drop in 15 months in February, and are expected to decline by up to 20% by year-end, from a peak in June 2019. SCMP.
  9. Hong Kong’s IPO market will likely bounce back in the second half of the year, but for now, it has been toppled from the No. 1 spot by an unlikely contender: Shanghai. SCMP. 

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