Economic data shows China’s industrial production fell 13.5% in the first two months of 2020. China’s lockdown protocols following the COVID-19 pandemic have included a widespread shutdown of manufacturing operations. Retail sales and asset investment also declined far more than experts anticipated. Retail sales in China fell by 20.5% and fixed asset investment fell by 24.5%. The steep decline in production during January and February, in combination with the Lunar New Year holiday, has caused China’s economy to reach an all time low. China is, however, beginning to see businesses reopen and people return to work. Despite the country's efforts to return to normal capacity, China’s economy is expected to undergo a historic contraction over the first quarter of 2020.
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