Photo: Xinhua

Despite the coronavirus outbreak that has cast a shadow over businesses in this particular period, domestic and international companies in China have already come up with measures to tackle the situation.

In an interview with the Global Times, on Wednesday, Edmund Yang, a PricewaterhouseCoopers partner in Beijing, said they have closed all offices in China and there is no plan for their foreign employees to be evacuated. Meanwhile, all staff are working from home until further notice. 

Yang noted that the company's leaders have emphasized the safety and health of all employees are the firm's top priority and special groups have been set up to provide assistance when needed. 

"For those who have travelled to areas with coronavirus cases, they have to observe the 14-day self-quarantine requirement," Yang said. "In addition to health tips, our HR teams check the status of our employees on a regular basis."

While trying to manage the coronavirus epidemic's impact on business operation, PwC China also applied expertise to help their clients in this challenging time. For example, the company has arranged a series of online sharing sessions for advising clients how to manage emerging issues from various perspectives such as legal and tax issues.

In addition to the foreign companies, some financial institutions are also acting to alleviate any possible impact on financial markets.

Chen Yuezhe, China's Guangdong Development Bank, said that small, medium- and micro-sized enterprises and individuals affected by the epidemic will be exempt from handling fees amid the coronavirus outbreak.

In the last two days, they have also provided special aid for dozens of companies and individuals in services such as loan approval.

During the epidemic period, the bank decided not to suspend loans to small, medium- and micro-sized enterprises and individuals affected by the epidemic. 

"Many of the medical companies these days are involved in the urgent purchasing of medical supplies from abroad. We extended our repayment period and even increased loan quotes for them," Chen said. 

"Also, in the education industry, students cannot go back to school, tuition fees cannot be collected, and we have increased the loan limit as appropriate," he added.

Lian Weiliang, deputy director of the National Development and Reform Commission, said at a press conference on Monday that China will work to ensure the prevention and control of the epidemic, energy supply, transportation and logistics, urban operations, medical supplies and daily necessities, and will encourage enterprises engaged in major projects and industries to resume production as soon as possible where conditions permit.

Global Times