China to minimize impact of novel coronavirus on economy

China is working to limit the impact of the novel coronavirus outbreak on the economy, said a senior official on Monday.

Cong Liang, secretary-general of the National Development and Reform Commission (NDRC), told a press conference that China is confident in overcoming the coronavirus and maintaining stable economic growth.

China has rolled out several measures to help businesses. There is a focus on helping smaller firms with tax and fee cuts, Cong said, adding that the impact on China’s economy will be limited and short term.