Impact of overseas virus cases on manufacturing sector will be manageable, industry regulators says
As confirmed cases of the novel coronavirus increase in foreign countries, it will affect China’s manufacturing industry to some extent, but the impact will be manageable, the nation’s top industry regulator said on Friday.
Xin Guobin, vice-minister of industry and information technology, said the industry chain is globalized and the novel coronavirus outbreak in the US and some European countries will affect China’s manufacturing industry.
If the overseas epidemic is contained soon, it will have limited impact on China’s industry, Xin added.
Even if it takes long time for some foreign countries to put the novel coronavirus under control, the impact will be manageable, Xin said.
“China has the world’s most complete industrial system and has the world’s largest domestic market. The industrial fundamentals in China also remain good. So we believe the impact will be controllable,” Xin added.