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1.Market Observations, 8.Was Sticky

3 Feb 2020 (AFR) – Coronavirus costs China’s services sector $217b in a week

(3 February 2020, AFR, p10, Wang Jing and Denise Jia)

Beijing | China’s coronavirus outbreak cost more than 1 trillion yuan ($217 billion) in losses to the restaurant, tourism and movie industries in seven days of the Lunar New Year holiday, economists estimated. The coronavirus, which has already killed more than 250 people and infected more people than the SARS outbreak in 2003, has brought large parts of the country to a standstill. Chinese people are being forced to stay home, cancel travel and avoid gatherings, hammering the service industries.’

Read more at AFR.com (might need AFR login access)

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