The disease COVID-19 caused by the SARS-CoV-2 virus was first reported in late 2019 in Wuhan, China, and is currently spreading rapidly worldwide. Governments around the world are racing to curb new infection cases and releasing new measures daily aimed at addressing this issue, with the goal of reducing social interaction and travel. Since the Lunar New Year in early January, Chinese authorities have restricted the movement of approximately 780 million people, implementing travel bans, mandatory leave, curfews, and even completely locking down entire cities. Governments in other countries/regions where infection rates are growing exponentially are also following a similar strategy of imposing strict restrictions on social and commercial life. After two months of lockdown, the Chinese government is gradually lifting restrictions on Wuhan.
The impact of the large-scale lockdown on the economy remains to be seen. Budgets in Singapore and Hong Kong, China have already provided some COVID-19-related relief measures for businesses and individuals. For detailed information regarding the budgets in Singapore and Hong Kong, China, please read our article section.
After resolving this pandemic, we look forward to meeting our clients and partners again. In the meantime, of course, we can communicate via email, phone, and video conferences.
