At Least 80% of Chinese Businesses Are Open, More on the Way

According to Wu Haishan, a vice president at WeBank, a digital bank started by tech company Tencent, roughly 80% of Chinese companies are open and operating. It’s been two months since the country closed sections of its economy.

Starbucks is among those that have reopened their doors, even in Wuhan China, the epicenter of the outbreak. Starbucks CEO Kevin Johnson told financial commentator Jim Kramer that China is on the uptick.

As people might expect, the wealthier, coastal regions of China are rebounding the quickest.

China’s experience would have the U.S. shut down for most of March and all of April, but that could be cut short because as the virus spreads, government officials learn how the virus works and implement mitigation measures as well as work on therapeutics and an eventual vaccine.

And then there’s the calendar. As the weather warms, we can hope that this virus, like many others, takes the summer off… at least in part.

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