China’s Economic Structural Adjustment Encountered Virus Outbreak, Short-term Fluctuation Will Not Affect Long-term Economic Trend

Since around the beginning of 2020, China has encountered a new type of coronavirus pneumonia (“COVID-19”) epidemic and it remains unclear when the epidemic will be under control. The transmission speed of COVID-19 is different from that of SARS in 2003. Because the public transportation is more convenient and the number of migrants in China is huge, it poses a greater challenge to the infection prevention and control of the epidemic and the ability of local health systems in reacting to the public health emergencies. As COVID-19 generally has an incubation period of about 14 days and the symptoms of some infected patients are not significant, there is an unavoidable time lag in the publicly disclosed confirmed and suspected cases. Relying on the currently available statistics to predict the turning point of COVID-19 can be challenging.