COVID-19 outbreak has shaken the global economy and has slow-down the businesses across the world. The first country affected by COVID-19 was China, and also the first country to recover faster than the rest of the world. 


Wuhan, the first city of China who got infected by Coronavirus is recovering from the state of emergency. Slowly and gradually, the city is returning to the streets of the central Chinese metropolis, where the Coronavirus pandemic has begun. Though it would still take time to return to normalcy, the journey has already started. 


After a lengthy lockdown and travel ban of two months, buses and subways are running again, and shops are getting reopen. People who were stuck in different places during the lockdown are back to their homes. 


China is overcoming the coronavirus crisis faster than in other countries.

Coronavirus Crisis In China

In China, after “COVID-19,” time has arrived. And a lot is happening in the country. Though nothing is back to the way it was before the Coronavirus Crisis, there are clear signs that the economy is speeding up. The official Manufacturing Purchasing Managers Index (PMI) jumped from 35.7 to 52 points in March. 


According to Fidelity analysts Chaire Xiao, Crystal Cui, and Peter Carter, most of the companies in China have now reached around 80 to 100 percent of the standard capacity. As per the experts’ saying, China’s economy will experience a significant slump in the first quarter before the situation improves in the second quarter of 2020. 


However, returning immediately to 100 percent of pre-crisis levels, a V-shape recovery is hardly realistic. The biggest booster of China’s economy is domestic consumption; the second most crucial pillar is still exporting. 


Read more on: What Can The Industry Do During This Crisis?

The Government of China

The Chinese companies are deeply concerned about the second wave of Coronavirus as it could set back the recovery. According to the Beijing Health Commission, there have been virtually no local infections for weeks, but China is not suddenly immune to the virus either, of course.


The government is taking all the necessary precautions to control the crisis of Coronavirus. For example, In Beijing, the neighborhood committees keep a continuous check on who enters the ground, and anyone returning to the capital from a trip has to remain in 14 days Quarantine. And Companies are obliged to take a fever reading of their employees every day. 

For foreign businesspeople, its’ currently impossible to get back to work. China has closed its borders for fear of the virus being reintroduced from abroad. Foreigners can only enter the country with a diplomatic visa. After the COVID-19 outbreak, even China’s Prime Minister Li Keqiang is not quite sure

about the supposed calm. In his last speech, he has warned provinces not to hide any new infections. The data must be handled “openly and transparently,” he mentioned, “it is what it is. There must not be any secrecy. 

China’s Apparel Industry

COVID-19 outbreak has deeply impacted China’s textile and apparel market. China is one of the most prominent players in the global textile market with maximum production and exports in the textile industry. 


According to official Chinese data, trade between the two countries - India and China was down 12.4 percent year-on-year in January and February. This was the same time when the coronavirus epidemic was peaking in China. China’s exports to India during this period was 67.1 billion yuan, 12.6 percent down from last year, while imports from India dropped 11.6 percent to 18 billion yuan. 


China’s apparel manufacturing has slow down during Coronavirus Pandemic and so the exports. Slowly, apparel manufacturers are back on track while apparel exports will still take some time to return in shape. 


Know More About: COVID-19 Impact: World Trade: Coming to a Standstill

Outlook

China is all set to chase its economic goals for the year 2020. Despite all the challenges, China has gained control over the COVID-19 outbreak and now the country sending the aids abroad. 


China is the home of the first detected case of Coronavirus has suffered a lot in terms of loss of life, economic impact, and the country’s reputation. Since then, the country has turned the table by gaining the measures to control the effects of the COVID-19 outbreak.