XI: NATION CAN WIN BATTLE AGAINST VIRUS

China has the confidence and capability to win the battle on the prevention and control of the pneumonia epidemic caused by the novel coronavirus, President Xi Jinping said on Wednesday.

Xi made the remark while meeting with visiting Cambodian Prime Minister Samdech Techo Hun Sen at the Great Hall of the People in Beijing.

China will continue to maintain an open and transparent attitude to enhance cooperation with all countries, including Cambodia, to jointly deal with the disease and maintain global and regional health security, Xi said.

Noting that Cambodian King Norodom Sihamoni and Queen Mother Norodom Monineath Sihanouk had expressed sympathy and support toward China over the outbreak of the disease, Xi said that the visit of the Cambodian prime minister demonstrated the unshakable friendship between the two countries.

A friend in need is a friend indeed, Xi told Hun Sen, saying that the Cambodian people are standing together with the Chinese people at this special moment.

The Cambodian prime minister's visit to China has shown the core meaning of a community with a shared future for China and Cambodia, which China greatly appreciates, Xi said.

The Communist Party of China and the Chinese government have taken the utmost and strictest measures to prevent and control the disease with a high degree of responsibility for the Chinese people and the international community, Xi said.

These measures have had positive results, Xi said, adding that the Chinese nation has withstood numerous challenges throughout its history.

Xi told Hun Sen that the Chinese government will take good care of Cambodian people living in China, including students, and safeguard their livelihood and health.

China would like to keep enhancing high-level exchanges with Cambodia and take bilateral relations to a new stage, Xi said.

Hun Sen said his decision to come to China at this special time is to demonstrate the strong support of the Cambodian government and people for the Chinese government and people in their fight against the disease.

The Cambodian people stand together with the Chinese people in this difficult time, he said, adding that Cambodia appreciates China's attention to the health of Cambodians living in China.

Some countries have taken extreme and restrictive measures to deal with the disease, which is undesirable, Hun Sen said, adding that panic itself is more horrible than the epidemic.

Cambodia will continue with its normal exchanges and cooperation with China to build a community with a shared future for Cambodia and China, he added.

Premier Li Keqiang also met with Hun Sen on Wednesday, during which Li also expressed confidence in winning the battle against the epidemic.

Hun Sen was welcomed by State Councilor and Foreign Minister Wang Yi upon his arrival at Beijing Capital International Airport on Wednesday afternoon.

MEASURES FOR EPIDEMIC CONTROL MUST BE LAW-BASED, PRESIDENT SAYS

Xi Jinping, general secretary of the Communist Party of China Central Committee, underlined on Wednesday the importance of greater legal support for the country's epidemic control and prevention efforts, and he urged officials to improve law-based governance in dealing with the emergency.

Xi, also China's president and chairman of the Central Military Commission, made the remark in Beijing when presiding over the third meeting of the Commission for Overall Law-Based Governance of the CPC Central Committee. Xi is head of the commission.

Xi stressed that novel corona¬virus-related epidemic control is at a critical stage, and it is crucially important to carry out related work in a scientific and orderly manner and in accordance with the law.

While highlighting that people's safety and health remain top priorities, Xi called for greater legislative, law enforcement and judicial oversight to strengthen the capacity for law-based epidemic prevention and control.

The more strenuous the situation is, the more important it is to intensify law-based efforts so that related work will move on a legal track, he said.

Xi called for a well-established, scientific and efficient legal system to support epidemic prevention and control.

Efforts should be made to strengthen risk evaluation and law-based decision-making and strictly carry out epidemic control measures to resolutely curb the contagion's spread, he said.

Xi stressed the need to strengthen enforcement of laws for those who jeopardize epidemic control efforts, strictly implement laws and regulations in terms of prevention and control of contagious diseases and take law-based steps to deal with the emergency.

Greater efforts should be made to uphold social stability by cracking down on assaults on healthcare workers, illegal price hikes of medical supplies and goods key to people's livelihoods, the making and selling of fake products and the creation and spread of rumors, Xi said.

He also urged additional efforts to guide the public in strengthening awareness of the rule of law to boost support for and voluntary cooperation with epidemic control efforts in accordance with the law.

Donations will be further regulated to ensure that all donated funds and goods will be used for preventing the spread of the contagion in a timely manner, he added.

Xi said information on the outbreak should be reported and released accurately, in a timely manner and in accordance with the law.

Promoting a better understanding of epidemic prevention and control methods as well as related laws should be intensified, he said.

Xi stressed that Party committees and governments at all levels should fully perform their duties in accordance with the law and carry out epidemic prevention and control work using law-based thinking and methods.

All departments should clearly understand their individual responsibilities and actively exercise their duties to guarantee people's health and livelihoods, Xi added.

Participants at the meeting also called for advancing law-based governance and letting the rule of law play an active role in modernizing the country's governance system and capacity.

LATEST NUMBERS ON CORONAVIRUS INFECTIONS

The number of confirmed infections of the novel coronavirus on the Chinese mainland climbed to 28,018 as of Wednesday at midnight, including 563 deaths, according to the National Health Commission.

Data released by the commission on Thursday morning also shows 3,694 of the cases and 73 deaths were newly reported on Wednesday.

A slower growth rate of new suspected cases that emerged on Monday and Tuesday failed to continue on Wednesday.

The number of suspected infections now totals 24,702, with 5,328 new ones registered on Wednesday. A day earlier, 3,971 suspected cases were reported.

While 3,859 patients remain in serious condition, a total of 1,153 people have been cured and released from hospitals as of Wednesday at midnight, the commission said.

A total of 186,354 people that have had close contact with infected patients are still under medical observation, it added.

Hubei province, center of the outbreak, reported 2,987 new confirmed cases and 70 new deaths on Wednesday, bringing the two numbers up to 19,665 and 549 respectively according to the province's health commission.

A total of 14,314 people sickened by the virus are still hospitalized in the province. Among them, 2,328 people have serious symptoms and 756 are in critical condition. Meanwhile, 633 have been discharged from hospital, the commission said.

Medical observation continues on 64,127 people.

CHINA TO HALVE RATES OF ADDITIONAL TARIFFS ON SOME US PRODUCTS

China will halve rates of additional tariffs on some US products worth about $75 billion starting Feb 14 in a bid to promote the healthy and stable development of Sino-US economic and trade relations, the Customs Tariff Commission of the State Council said Thursday.

YUAN HOLDS STEADY AMID EPIDEMIC

The yuan continued to hold ground and did not retreat far from the psychological threshold of 7 per US dollar during the three trading days after the extended Lunar New Year holiday, with the market expecting a relatively stable value for the currency amid the fight against novel coronavirus epidemic.

The central parity rate of the yuan, or the daily trading reference rate against the US dollar, weakened by 44 basis points on Wednesday to 6.9823. The onshore yuan exchange rate strengthened to 6.98 per dollar on Wednesday.

It followed a drop of 530 basis points to 6.9779 yuan per dollar on Tuesday－the largest intraday decline since July 20, 2018. The US dollar index strengthened to 97.95, the highest since Jan 30.

Global central banks have expressed concern on the currency fluctuations and indicated a willingness to stimulate economic growth as the novel coronavirus epidemic had increased the downside risks for the world economy.

On Wednesday, the Monetary Authority of Singapore said there is "sufficient room" for the currency to ease, if the economy weakens due to the novel coronavirus epidemic. Similar stimulus may be taken by central bankers in Japan and Australia to shield the economy. The possible monetary easing such as further interest rate cuts will see currencies retreating, especially in Asia.

"Investors should take a rational view on the short-term yuan fluctuations," said Xie Yaxuan, chief analyst of China Merchants Securities."The outbreak came suddenly and had a significant impact, but the relevant response measures have been taken in a timely manner, and the fluctuation will not change the foundations that support a stable yuan in the long run."

When the epidemic retreats, the depreciation pressure on the yuan will ease, he said. But in the short term, the extension of the Lunar New Year holiday due to the epidemic will have a negative impact on exports in February, increase the trade deficit and prompt concerns about the yuan exchange rate.

The yuan has appreciated against the US dollar after the Phase One agreement between Washington and Beijing signaled an easing in the long-standing trade friction between the two largest economies in the world. On the last trading day before the Lunar New Year holiday, the onshore yuan was traded at 6.93 yuan per dollar, weaker than the 6.9292 yuan per dollar in the offshore market.

Monetary authorities have long reiterated, with the latest being in the two-page chapter of the China-US Phase One trade deal, that China would not devalue its currency for competitive advantages.

There was also consensus that the Chinese central bank has abandoned its direct intervention in the foreign exchange market for quite some time now. It is unlikely that the People's Bank of China, the central bank, will intervene in the market, even if the epidemic control measures continue for a longer time.

The PBOC will continue to let the market take a decisive role in setting the yuan rate, according to analysts, who believe the policy approach to keep the yuan rate basically stable at a reasonable and equilibrium level will not change during the fight against the epidemic.

VOLUNTEER DRIVERS SHOW BRAVERY ON FRONT LINE

Since the onset of the novel coronavirus outbreak in Wuhan, Hubei province, most people have avoided going out in order to reduce the risk of becoming infected.

Healthy residents know it is vitally important not to go to hospitals in the city, where many infected patients are being treated, unless it is absolutely necessary.

However, a group of local volunteer drivers is doing exactly this by shuttling doctors and nurses between their homes and hospitals free of charge. As these medical professionals are in contact with patients every day, it means that the drivers have an increased risk of exposure to the virus.

Wuhan's public transportation system－including a subway, buses and ferries－has been suspended since Jan 23, with air and rail links into and out of the city virtually cut off.

Wuhan Mayor Zhou Xianwang said at a news conference on Friday that more than 60,000 medical professionals in the city are treating patients with the virus and working to contain the outbreak.

"I was worried how medical professionals would commute to work. How can soldiers fight a war if they can't make it to the battlefield?" said Huang Xiaomin, organizer of the Wuhan 123 Volunteer Motorcade, so-named because he came up with the idea on Jan 23.

Along with Huang, some public-spirited citizens in the city have volunteered to drive doctors and nurses to work and to transport medical supplies to hospitals.

Huang said:"As the old saying goes, 'every man has a share of responsibility for the fate of his country'. I was born and raised in Wuhan. When the city 'falls ill', I feel the responsibility to make a positive effort.

"What I'm doing is like ants at work. I know my own efforts alone are insignificant, but I'm glad that I can help others."

On Jan 26, the authorities in Wuhan said they had organized 6,000 taxis for communities and 300 buses for medical professionals and others who have to go to work. Medical workers can stay at hospital dormitories or hotels that volunteer to house them. A few hospitals have organized buses for these workers.

"The number of medical professionals in Wuhan is large, as is their demand for transportation. Volunteer drivers are playing an important role in the city," Huang said.

He has strict rules for the drivers－they must wear masks, gloves, goggles and protective clothing and disinfect their cars each time before they pick up a passenger.

There are some 900 medical professionals in Huang's motorcade WeChat groups. The coordinators pick up times and destinations to the drivers via WeChat. Passengers have to show their work permit for identification purposes.

CATERING FIRMS HIT BY EPIDEMIC

"I think this month (before and after the Spring Festival) should have brought in revenue of 700 to 800 million yuan ($99 million to $114 million), but it suddenly became zero," said Jia Guolong, chairman and founder of Xibei, a 32-year-old Chinese catering chain brand.

With its more than 400 restaurants in about 60 cities all closed and about 20,000 employees idle due to the novel coronavirus outbreak, Jia told Chinaventure.com in an interview that the company could survive three months even if they only rely on loans.

The Spring Festival holiday is a traditional peak season for the catering industry. But the hit from the unexpected epidemic has forced business executives to confront a crisis.

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.

He added the only meager income they currently get is from selling instant rice noodle products on e-commerce platforms. If the situation continues, the company will face great difficulty after three to four months.

Nationwide sales of retail and catering companies reached over 1 trillion yuan during last year's Spring Festival holiday. But catering sales were estimated to fall by 500 billion yuan during the same period this year, a report by Evergrande Research Institute said.

As most Chinese stayed home to prevent possible infection from exposure in public spaces or dense crowds, industries in offline services such as catering are facing a challenge.

The outbreak struck in late January when restaurants had completed full preparations for the holiday in the allocation of human resources and inventories of food.

Several catering brands have already announced the closure of offline restaurants or changed their service methods.