Author(s)

Xiangwu Zheng, Xiaomei Zou, Gengrui Zheng, Nan liu, Yunlin Tan, Junyu Fu

Corresponding Author

Xiangwu Zheng

Abstract

in order to explore the ability of local and enterprises to deal with and prevent sudden public health crisis, this paper takes Guangzhou as an example to compare and analyze the impact of similar huge public health crisis on China's economy and finance in the SARS period in 2003 and the new coronary pneumonia epidemic period in 2020. In the period of SARS, the tertiary industries, such as accommodation, which are related to the flow of people, are the most impacted by the crisis, and the industries related to necessities are growing against the trend. However, due to the short time of SARS, it does not bring too much uncertainty to economic activities, and due to the moderate regulation of monetary policy, its impact on the stock market is relatively temporary and unsustainable. During the period of COVID-19, although the industry that struck was almost the same, but the impact of the epidemic has been greatly alleviated by more advanced policy regulation and online shopping penetration. Meanwhile, China's control measures are more obvious, and the RMB currencies have more growth power in the foreign exchange market.

Keywords

Covid-19, Sars, Local government