China's State Council's inter-agency task force on the prevention and control of the novel coronavirus pneumonia outbreak holds a press briefing. The main topic of the briefing is the state of China's financial system during the health emergency. The virus outbreak will have a short-term impact on the Chinese economy, especially in the first quarter of the year, but the basics of the Chinese economy are fine, according to Horst Loechel, professor of economics at Frankfurt School of Finance & Management.