CHINA will provide Serbia with assistance in protective equipment and medical instruments, and send a group of medical experts to help it better contain the COVID-19 epidemic, Chinese President Xi Jinping said in a recent message of sympathy to his Serbian counterpart, Aleksandar Vucic.
Xi Jinping said China stands ready to work with France to boost international cooperation in epidemic prevention and control and build a community of common health for mankind.
Xi made the remarks in a recent message to French President Emmanuel Macron, in which he extended sincere sympathies on behalf of the Chinese government and people to their French counterparts over the COVID-19 outbreak in the European country.
China and France have a fine tradition of helping each other and sharing the ups and downs in bilateral relations, said Xi, who thanked the French government and society for their support of and sympathies with China’s all-out battle against the novel coronavirus disease.
Pointing out that public health security is a common challenge faced by humanity, he said the Chinese government and people firmly support France’s efforts against the COVID-19 epidemic, and stand ready to boost cooperation with France and jointly win the battle through mutual support and help.
Both as permanent members of the UN Security Council, China and France share the important responsibility of safeguarding the lives and health of the entire human race, Xi stressed.
China, he added, is willing to make concerted efforts with France to enhance international cooperation in epidemic prevention and control, support the United Nations and the World Health Organisation playing a core role in improving global public health governance, and build a community of common health for mankind.
Xi stressed that he attaches great importance to the development of China-France relations, and stands ready to work with Macron to properly coordinate all aspects of work related to epidemic control and bilateral relations, so as to ensure that the China-France comprehensive strategic partnership will ride out the COVID-19 test and continue to move forward.
Public health crises pose a common challenge for humanity, and solidarity and cooperation are the most powerful weapon to tackle them, President Xi said in a recent message of sympathy to German Chancellor Angela Merkel.
In his message, Xi, on behalf of the Chinese government and people, expressed sincere sympathies to the German government and people over the recent COVID-19 outbreak in the European country.
Xi recalled that not long ago the German government and various sections of German society conveyed via multiple means their sympathies with and support for China’s epidemic prevention and control efforts.
China firmly supports Germany’s endeavour in combating the epidemic and is willing to provide assistance within its capacity if there is a need from the German side, he said.
Upholding the principle that mankind is a community with a shared future, China stands ready to continue sharing information and experience with Germany, and strengthening cooperation in such areas as epidemic prevention and control, treatment of patients, and vaccine research and development, so as to jointly protect the health and well-being of people not only in both countries but in the rest of the world, Xi added.
Xi stressed that China highly values the development of China-Germany relations, and is willing to work with the German side to deepen their all-round strategic partnership and promote the development of China-Europe relations.
- IMF officials wrote in a blog that Chinese policymakers made the ‘hard choices’ to implement strict mobility constraints, both at national and local levels, with the devastating tradeoff in Hubei Province.
China’s experience so far has shown that the right policies make a difference in fighting the COVID-19 epidemic and mitigating its impact, though some of these policies come with difficult economic tradeoffs, the International Monetary Fund (IMF) said on Friday.
Noting that success in containing the coronavirus comes at the price of slowing economic activity, three IMF officials wrote on an IMF blog that Chinese policymakers made the ‘hard choices’ to implement strict mobility constraints, both at the national and local level, with the devastating tradeoff in Hubei Province.
‘This makes it clear that as the pandemic takes hold across the world, those hit the hardest – within countries but also across countries – will need support to help contain the virus and delay its spread to others,’ they said, adding that mitigating the impact of this severe shock requires that support to the most vulnerable be provided.
The IMF officials said that Chinese policymakers have ‘targeted vulnerable households and looked for new ways to reach smaller firms’ – for example, by waiving social security fees, utility bills, and channelling credit through finance-related tech firms.
The authorities also quickly arranged subsidised credit to support scaling up the production of health equipment and other critical activities involved in the outbreak response, which has been helpful, the officials argued.
The blog, part of a special IMF series on the response to the coronavirus, is co-authored by Helge Berger, the IMF’s China mission chief, Kenneth Kang, a deputy director in the IMF’s Asia & Pacific Department, and Changyong Rhee, director of the Asia and Pacific Department.
To safeguard financial stability, the IMF officials said, Chinese authorities ‘stepped in early’ to backstop interbank markets and provide financial support to firms under pressure, while letting the renminbi adjust to external pressures.
Among other measures, this included guiding banks to work with borrowers affected by the outbreak, incentivising banks to lend to smaller firms via special funding from China’s central bank, and providing targeted cuts to reserve requirements for banks, they said.
Noting that some of the relief tools come with their own problems, the officials said using ‘well-targeted’ instruments wherever possible ‘is the way to go’.
The IMF officials said the outbreak led to terrible human suffering in China, as it is continuing to do elsewhere, along with significant economic costs. ‘The coronavirus shock is severe even compared to the Great Financial Crisis in 2007-08, as it hit households, businesses, financial institutions, and markets all at the same time – first in China and now globally,’ they said.
‘While there are reassuring signs of economic normalisation in China – most larger firms have reported reopening their doors and many local employees are back at their jobs – stark risks remain,’ the IMF officials said, adding that this includes new infections rising again as national and international travel resumes, as well as economic risks of the ongoing pandemic.
‘Therefore, Chinese policymakers will have to be ready to support growth and financial stability if needed,’ they said, ‘given the global nature of the outbreak, many of these efforts will be most effective if coordinated internationally.’
