Coronavirus Caused China's Economy Record Collapse

January - February, industrial production in China decreased by 13.5 percent year on year. Retail sales fell 20.5 percent, according to Beijing statistics. The epidemic of the new coronavirus SARS-CoV-2 has led to a record collapse of the Chinese economy. In January - February of this year, industrial production in China declined year-on-year by 13.5 percent, retail trade fell by 20.5, and investment in fixed assets by 24.5 percent, the Statistical Office in Beijing said on Monday, 16 Martha. Due to the coronavirus, the economy in China has practically stalled since the end of January. Due to strict measures to prevent the spread of infection, enterprises were forced to close for many weeks. As authorities in Beijing announced last week that the peak of the epidemic was over, analysts expect a slow recovery in production and improved economic performance. At the same time, experts note that in many areas the resumption of production is slower than expected. According to official data, the number of new SARS-CoV-2 infections in China remained low by the beginning of the week. At the same time, concerns about infected people returning to China from abroad are growing. According to the Beijing Ministry of Health, 14 deaths from COVID-19 pneumonia and 16 new cases of SARS-CoV-2 infection have been reported across the country. Moreover, 12 of these cases are people who have been diagnosed with the virus upon returning from abroad.