Alipay Says 39% of Small Vendors Have Seen Trading Levels Return to Normal since Coronavirus Outbreak

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Chinese payments giant Alipay estimates that over a third of small vendors that have resumed trading since the outbreak of the coronavirus have seen their business levels return to normal.

Alipay data indicates that 39% of small vendors that have resumed business since the end of the Chinese New Year vacation have seen their daily trading levels return to levels from prior to the holiday.

Yin Zhentao (尹振涛), vice-chair of the Financial Risk and Supervision Research Office of the Chinese Academy of Social Sciences Financial Research Institute, said that a sizeable number of vendors had yet to resume operation, and those that have returned to business are in sectors with less competition.

Yin also said that the pressure on Chinese consumption resulting from the impacts of the coronavirus outbreak is beginning to ease.

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