Turning point of coronavirus outbreak in China has not come - politburo

The turning point of coronavirus outbreak in China has not come yet and the situation in Hubei province remained severe and complex, the state television quoted a politburo meeting chaired by President Xi Jinping as saying on Friday. The impact of the coronavirus outbreak on China's economy is obvious, but long-term improving momentum of the economy will not change, it said.

Fiscal policy in China will be more proactive and effective and prudent monetary policy will be more flexible, it said. The government will fend off systemic financial risks, it added.