DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

China To Expand Imports Of Meat, Other Goods To Tackle Shortages

By Steve Wynne-Jones
Share this article
China To Expand Imports Of Meat, Other Goods To Tackle Shortages

China will expand imports of meat and other goods key for the public's livelihood in order to address shortages, an official at its commerce ministry said on Monday, amid a coronavirus outbreak that has disrupted the country's economy.

Zhu Xiaoliang, director-general of the ministry's market system development, made the comments during an online briefing.

Elsewhere, China's central bank has taken a raft of measures to support the economy, including reducing interest rates and flushing the market with liquidity. From Monday, it will provide special funds for banks to re-lend to businesses working to combat the virus.

Despite the measures, analysts expect the world economy to take a hit from an expected slowdown in China.

"For now, our best guess is that the economic disruption related to the coronavirus will cost the world economy over $280 billion in the first quarter of this year," Capital Economics said in a note on Friday.

ADVERTISEMENT

"If we're right, then this will mean that global (economic output) will not grow in q/q terms for the first time since 2009."

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.