The outbreak of COVID-19 has brought upon unprecedented challenges, and is expected to have a significant impact on China's economic development this year. Based on the current situation, PwC analysed the pandemic’s impact on China’s economic growth and on individual industries, and proposed countermeasures and recommendations for the country’s policies.
China’s Lunar New Year Golden Week was expected to bring promising sales to businesses, but the sudden outbreak of COVID-19 has impacted many industries in varying degrees. The challenges caused by the pandemic have affected the operation and business performance of many industries in the short run. The resulting uncertainties will bring deeper impact in the long term. The crisis have prompted many industry players and management to re-examine and refine business development plans in the medium to long-term in order to accelerate transformation.
Immediate action and post-pandemic transformation
The uncertainties arising from the pandemic have resulted in difficulties and challenges on prevention and control, as well as business continuity. As one of the leading professional services firms, PwC has launched a series of pandemic prevention recommendations to help enterprises rebuild and transform.
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PwC is actively fulfilling our corporate responsibility by supporting prevention and control measures in affected areas. We have set up a crisis response team to provide manpower and resources, track the status of the pandemic, assess demand gaps and select the most effective way to make donations. Moving forward, we will continue to provide various means of material and monetary donations to assist residents in affected areas.