Zhang Tianyi, founder and CEO of Baman, a Chinese beef and rice noodle company, said 90 percent of his restaurants have closed since Jan 24, the eve of the Lunar New Year, due to prevention and control measures against the virus. He has asked his employees to stay in dormitories in Beijing and their salaries are being paid as usual.
Zhang Ying, director of the employment promotion department of the Ministry of Human Resources and Social Security, said at the conference that the epidemic has affected companies, especially small and medium-sized enterprises. There is a labor shortage because of policies restricting population flow, Zhang said.
Zhang Zhiwei, chief China economist at Deutsche Bank, said US companies actually may have sold more to China than Chinese firms to the US. The bilateral trade balance may be misleading because it does not capture the sales of goods and services by foreign firms' local subsidiaries, Zhang said. Countries such as Japan and South Korea have large businesses in China that export to the US.
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Zhang Shuoqi, a 31-year-old website editor who rented an apartment in Beijing for two years, recently became an intercity commuter. She now gets up at 5 every morning to commute between Tianjin and Beijing by train.
Zhang is one of a growing number of Chinese who have started to habitually consume the caffeinated beverage, and they are helping make the nation's market for the drink the fastest-growing in the world.
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Zeng also suggested the automaker could make more of Chery's sales network, which is much larger than its own. Currently, Qoros has around 115 dealerships, with each selling about 200 cars a year. The industry average is around 500 cars annually.
Zhang has been included in the ranking of top thinkers since 2015 in recognition of his innovative management philosophy that "blends the essence of traditional Chinese culture with modern Western business concepts", according to the Thinkers50 website.
Zhang Jun, chief economist at Morgan Stanley Huaxin Securities, said China still has a lot of room for fiscal stimulation, but he warned at a forum on Nov 30 that the problem of local government debt should be handled well.
Zhang Zhongru, the first president of People's Liberation Army University of International Relations and a veteran of the fighting that preceded the birth of the People's Republic of China, died in Beijing on Thursday at the age of 100.