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Chinese president promises aid to industries hurt by virus

Chinese president promises aid to industries hurt by virus | iNFOnews.ca
In this Feb. 10, 2020, photo released by Xinhua News Agency, Chinese President Xi Jinping gestures near a heart shape sign and the slogan "Race against time, Fight the Virus" during an inspection of the center for disease control and prevention of Chaoyang District in Beijing. China's daily death toll from a new virus topped 100 for the first time and pushed the total past 1,000 dead, authorities said Tuesday after leader Xi Jinping visited a health center to rally public morale amid little sign the contagion is abating. (Liu Bin/Xinhua via AP)

BEIJING – Chinese President Xi Jinping on Wednesday promised tax cuts and other aid to industries hurt by a virus outbreak in a renewed effort to rein in the rising damage to the economy.

Xi’s announcement comes as companies face increasing losses due to the closure of factories, offices, shops and other businesses in the most sweeping anti-disease measures ever imposed.

The measures have disrupted travel and other industries. Some businesses are beginning to reopen but many face heavy losses.

Beijing needs to “maintain stable economic operation and social harmony,” Xi said in comments broadcast on state television.

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