Hubei extends coronavirus curbs for further three weeks

Authorities in China's Hubei province have ordered all companies to stay closed for almost three more weeks, in an indication that the effect of the coronavirus is unlikely to fade soon even though there is a sharp drop in new cases.

Companies in Hubei, the epicentre of the outbreak, will not be able to reopen until 11 March, the provincial government said today. The only exceptions are companies in critical industries, such as those involved in fighting the coronavirus, as well as utilities such as oil and gas suppliers and the food industry.

The extended closure means businesses in Hubei will effectively be shut for at least one and a half months, since the start of the lunar new year on 24 January. Businesses were previously told to stay closed until tomorrow.

Hubei accounted for around 5pc of China's gross domestic product (GDP) last year. The province is home to around 8-9pc of China's automobile production, and a large number of its auto components manufacturers. Fuel demand in Hubei has fallen by at least 80pc as a result of the coronavirus, according to Argus estimates.

The outbreak began in Hubei's provincial capital of Wuhan late last year, and the province has been hardest hit. There have been around 62,000 confirmed cases and 2,029 deaths from the coronavirus in Hubei, accounting for 83pc and 96pc of the totals in mainland China respectively, according to the latest figures.

Hubei reported 349 new confirmed cases of the coronavirus yesterday, down from 1,693 a day earlier. The China-wide total fell to 394 from 1,794. But the government has again changed the way it diagnoses cases, complicating comparisons.

By Kevin Foster