The COVID-19 pandemic has brought the world to a standstill. The global economy is severely impacted, so is China's.
During the first quarter of 2020, China's GDP showed a year-on-year fall of about 6.8 percent, and many Chinese people saw their incomes drop for the first time in years. The Chinese government has, on the one hand, introduced several policies that stabilize employment and actively encourage businesses to resume operations. On the other hand, it is stepping up support for businesses, particularly small and medium-sized enterprises, in taxation, loans and funding.
