(Bloomberg) -- President Xi Jinping vowed China would meet its economic goals while winning the battle against the deadly coronavirus that has claimed 1,115 lives.
The Chinese leader’s comments come after U.S. Federal Reserve Chairman Jerome Powell said the outbreak poses a risk to the American and world economies.
While more cases emerged overseas, with Japan finding 39 new infections aboard a cruise ship, the latest data from China signaled the outbreak may be easing. The number of new cases in Hubei province was the lowest this month, while suspected infections on the mainland fell by more than 5,000 to about 16,000.
Key Developments
- China death toll at 1,113, up by 97
- Confirmed China cases at 44,653, up 2,015
- Turned Away on Virus Fear, Cruise Ship Risks Running Low on Food
- China’s Cities Lock Up Residents to Prevent Spread of Virus
- See a breakdown of virus cases here.
China Death Toll Rises to 1,113 (10:08 a.m. HK)
China said the death toll from the coronavirus outbreak rose to 1,113 as of Feb. 11, with 97 additional fatalities reported. Some 1,068 of those deaths have occurred in Hubei, the province at the center of the coronavirus outbreak.
Confirmed cases of the disease in mainland China rose to 44,653, according to a statement from the National Health Commission.
Hubei reported 1,638 additional cases, the lowest daily level this month. That’s an encouraging sign for health experts looking for when the outbreak peaks. Also, the number of suspected cases as of Feb. 11 was 16,067, down from 21,675 the previous day.
Two deaths have been reported outside mainland China, one in Hong Kong and the other in the Philippines.
China Supports Merger of Airlines Amid Outbreak (10:01 a.m. HK)
China’s Civil Aviation Administration said it will support the restructuring of airlines to ease the impact from the coronavirus outbreak.
The administration will also work with the Ministry of Foreign Affairs in urging some countries to continue international flights with China.
The coronavirus outbreak has disrupted flights to and from China, one of the world’s busiest travel markets, as airlines around the globe halt service.
Xi Vows China Will Meet Economic Goals, Defeat Virus (9:10 a.m. HK)
President Xi Jinping vowed that China would meet its economic and social development goals while winning the battle against the deadly coronavirus.
“We have the ability and confidence not only to defeat the epidemic, but also to accomplish the set goals and tasks for economic and social development,” he told Indonesian leader Joko Widodo in a phone call Tuesday, according to the official Xinhua news agency. “I believe China will be more prosperous after overcoming this epidemic.”
Xi said authorities were at an important juncture in fighting the virus, which has killed more than 1,000 people and fueled fears of a broader slowdown for the world’s second-biggest economy. He had urged officials to work together to contain the virus at a rare meeting of top leaders earlier this month, saying the outcome would directly impact China’s social stability.
China Ag Purchases May Be Less Than Hoped: Official (8:42 a.m. HK)
China’s agricultural purchases from the U.S. under the first phase of a trade deal may not be as large as the Trump administration had hoped due to the coronavirus, said White House National Security Advisor Robert O’Brien.
“It could have an impact on how big, at least in this current year, the purchases are,” O’Brien said at an Atlantic Council event Tuesday in Washington.
He also said American doctors are still not being let into China to deal with the outbreak.
“We’ve offered the Chinese the opportunity to have American doctors from CDC, NIH and others,” he said. “That offer’s not been accepted at this point, but it’s an outstanding offer.”
Australia Official Sees ‘Serious Downside Risk’ (8:16 a.m. HK)
Australia’s tourism and education sectors are key industries in the firing line of the coronavirus epidemic, and the central bank’s latest forecasts have not incorporated supply chain disruptions, a senior official said.
“That’s something we’ll need to keep watching and there’s serious downside risk,” Alexandra Heath, head of economic analysis at the Reserve Bank, said in Sydney Wednesday in reference to the coronavirus. “I don’t think we can say that it is just a quarterly shock that then everything goes back to normal.”
Japan Reports 39 More Cases Aboard Cruise Ship (7:54 a.m. HK)
Japan’s Health Ministry confirmed an additional 39 cases of the novel coronavirus on a cruise ship in Yokohama, bringing the total number of infections from the quarantined vessel to 174.
Defense Minister Taro Kono tweeted that a quarantine officer from the health ministry also tested positive for the virus.
Carnival (NYSE:CCL) Corp.’s Diamond Princess cruise ship has become the biggest center of infection of any place outside of China. The Health Ministry said 492 on board have been tested, and four that tested positive are in serious condition.
The Diamond Princess was placed under quarantine last week and checks were conducted after a passenger from Hong Kong who had been on the ship tested positive for the virus. The ship has become a case of concern because of the possibility of more infections in the vessel’s confined spaces, and the increased risks to elderly passengers.
Cruise Ship Risks Running Low on Supplies (6:47 a.m. HK)
Countries could continue to refuse to berth the Westerdam cruise ship carrying 2,257 people, citing fears of the deadly coronavirus, until conditions on the luxury liner become so dire that it invokes an emergency.
The cruise ship operated by Carnival Corp.’s Holland America Line could be forced to wait until it’s in distress -- running out of water, food or fuel -- before international law-of-the-sea conventions kick in and legally obligate the closest country toadmit the vessel or provide help, according to maritime experts.
“The countries are all passing the buck until it lands in the lap of someone who has to take the ship because the ship’s run out of fuel or food,” said Jean-Paul Rodrigue, a professor of transit geography at Hofstra University in New York. “When the ship is in distress, the nearest port of call will be bound in this case to help. That’s the law.”
Thailand on Tuesday became the fifth country or territory to deny the Westerdam access to its ports, according to the World Health Organization. The ship’s operator has said it has no reason to believe there are any cases of coronavirus on board.
J&J Says It Will Accelerate Vaccine Work (4:34 p.m. NY)
Drugmaker Johnson & Johnson will accelerate work on its attempts to develop a vaccine for the new coronavirus, expanding a collaboration with the U.S. government’s Biomedical Advanced Research and Development Authority, the company said in a statement. Under the agreement, J&J and Barda will share some R&D expenses, and J&J will will work to expand production capabilities for a potential vaccine.
U.S. Raises Travel Advisory for Hong Kong (3:20 p.m. NY)
The U.S. State Department raised its travel advisory for Hong Kong to level 2, which means travelers should exercise increased caution.
“The Hong Kong government has reported cases of the novel coronavirus in its special administrative region, has upgraded its response level to emergency, its highest response level, and is taking other steps to manage the novel coronavirus outbreak,” the department said.
Last month, the U.S. raised the advisory for mainland China to level 4, the highest designation, which means do not travel.
Powell Says Fed Monitoring Virus (12 p.m. NY)
Federal Reserve Chairman Jerome Powell said the U.S. central bank is keeping a close eye on fallout from the deadly coronavirus outbreak in China, singling it out among risks threatening the U.S. and world economy.
“In particular, we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell said in remarks before U.S. lawmakers.
Powell stopped short of saying the outbreak had changed the Fed’s baseline outlook for the U.S. economy.
Powell faced questions from lawmakers of the House Financial Services Committee about the potential impact of the virus on the U.S. economy.
“We know that there will be some, very likely be some effects on the United States,” he said, adding that the question for the Fed is whether they’ll be “persistent” and “material.”
U.S. Health Official Raises Concerns About Cruise Ship (12:19 p.m. NY)
A top U.S. health official said that quarantining large numbers of people on cruise ships to contain cases of the coronavirus may present issues.
“The increased cases count is making authorities really look critically at what is the safest thing,” said Anne Schuchat, principal deputy director of the Centers for Disease Control and Prevention, during a press event Tuesday in Washington.
Several cruise ships have been quarantined or turned away from ports because of concerns about infections on board. Some older cruise passengers can be at particular risk of complications from the virus.
First Quarantined American Evacuees to Be Released (10:30 a.m. NY)
A first group of Americans who were quarantined after being repatriated from the center of the outbreak in China are expected to be released Tuesday, Anne Schuchat, principal deputy director of the U.S. Centers for Disease Control and Prevention, said at a press conference Tuesday.
Health workers are doing final checks to make sure none of the people are showing symptoms.
The U.S. has been putting those evaluated from the outbreak into quarantines of at least 14 days, part of a broad set of measures to stop potential spread of the virus by returning Americans and their family members. A first group of about 200 Americans was repatriated last month, and the U.S. has been running quarantine centers at military bases.
State Department to Let Some Hong Kong Staff Depart (10:25 a.m. NY)
The U.S. State Department will let non-essential diplomats and their families based in Hong Kong leave if they want to, amid growing fears about the spread of the coronavirus there.
Hong Kong consular staff and their families aren’t required to leave, a State Department spokesperson said Tuesday, speaking on condition of anonymity. The move is being taken out of an abundance of caution and the consulate will remain open, the person said. Nevertheless, the decision is likely to be closely reviewed by other countries and businesses as they plan how to gauge their response to the outbreak.
The State Department move comes as the number of cases in Hong Kong continues to grow, with at least 49 confirmed infections and one death. The U.S. shut its consulate in Wuhan, China, the center of the outbreak, and has allowed diplomats and family members to leave other outposts in China if they wish.
Disease Is Officially Named Covid-19, WHO Says (10:10 a.m. NY)
The disease cause by the new coronavirus that emerged in Wuhan, China, has been officially named Covid-19, the World Health Organization said at a press conference Tuesday in Geneva.
The pathogen itself has gone by the designation 2019-nCoV. WHO Director-General Tedros Adhanom Ghebreyesus said that naming the disease it causes was important, and that the group had been conscious about not picking a name that could be inaccurate or stigmatizing.
