Policymakers predict rapid recovery

Chinese policymakers expect a quick recovery of economic growth after the novel coronavirus pneumonia epidemic is contained, as the country has made a series of strong policy adjustments to counter downward growth pressure.

Chinese central bank officials and heads of global financial organizations agreed that the impact of the pneumonia-causing virus on the Chinese economy will be limited and short-lived.

"The impact of the outbreak on the Chinese economy will mainly be in the short run," Chen Yulu, vice-governor of the People's Bank of China, wrote in an article published on the central bank's website on Sunday.

The central bank expected economic growth to rebound due to the strong and effective measures taken by the government, the article said. "As the postponed consumption and investment activities resume, the economy is expected to experience a compensatory recovery."