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COVID-19 has seriously impacted China's real economy and directly threatened the survival and healthy development of enterprises. Based on the data of Chinese A-share listed enterprises in Shanghai and Shenzhen from 2017 to 2021, this paper empirically examines the impact and mechanism of COVID-19 on enterprises financial distress. The findings are as follows: (1) The impact of COVID-19 significantly increases the risk of enterprises financial distress. (2) There are differences in the effect of COVID-19 on the financial situation of enterprises with different characteristics, with significant negative impacts on enterprises in industries such as mining and manufacturing, as well as smaller enterprises and those located in the central and western regions. (3) Digital transformation and government subsidies can alleviate the negative effects of COVID-19 on enterprises financial distress. The paper provides a basis for enterprises to recover from financial difficulties as soon as possible, enhance competitiveness, and realize sustainable development. [ABSTRACT FROM AUTHOR]

In the coronavirus epidemic, many Chinese hospitals have established buffer zones to prevent the spread and transmission of the virus. The buffer zone is a monitored and separate area where the patients who need hospitalizations after the quick treatments in the emergency department can temporarily wait for the Covid-19 test and receive some healthcare services to stabilize their conditions. Because the beds in the buffer zones are limited, the managers face the patient admission control problem for the buffer zone. This management and control problem is challenging since the patient arrivals are uncertain, and the patients’ conditions are different. In this paper, we build the infinite- and finite-horizon Markov decision process (MDP) models for this problem. We use the uniformization method to discretize the patient flow. We propose various iteration algorithms to solve the MDP models and obtain the optimal and threshold policies. Numerical experiments validate the advantages of the policies obtained by the algorithms in this paper over the current policies of hospitals. Note to Practitioners—The ongoing COVID-19 pandemic has been causing enormous damage to people’s health, jobs, and well-being. COVID-19 has affected almost all countries globally and has changed the operation mode of the healthcare system, especially the hospitals. The hospitals are the frontlines of healthcare service and the battle with the COVID-19 pandemic. This article is motivated by our collaborations with hospitals in Shanghai, China. In China, many hospitals establish buffer zones: a monitored area where the patients who need hospitalizations after the quick treatments in the emergency department can temporarily wait for the Covid-19 test and receive some healthcare services to stabilize their conditions. Because the zone’s capacity is limited, the managers must make dynamic patient admission control decisions according to multiple factors, such as patients’ health conditions and the usage of beds in the zone. We propose two MDP models to solve this complex problem. Several iteration algorithms are designed to solve the MDP models and obtain the optimal and threshold policies. Based on hospitals’ real-life data, we show the methods presented in this paper can help hospital managers make more reasonable decisions. Although we focus on the hospital’s buffer zone in China, the methodology and approach for this problem can be extended to other practical hospital management scenarios in the coronavirus pandemic. For example, For example, some hospitals have admission control problems for coronavirus patients due to hospital capacity limitations. The hospital has to decide if a patient is accepted as an inpatient or suggested to home quarantine. In such a case, the admission control problem can also be solved by the methodologies in the paper. [ABSTRACT FROM AUTHOR]

This paper investigates the recovery period of consumer salmon purchase intention after food scares at the Xinfadi wholesale market in China during the COVID-19 pandemic and examines the impact mechanism of risk preference and risk perception on the period duration. Our empirical analysis is based on a survey of 655 salmon consumers in Beijing, Tianjin, and Shanghai. We estimate that the purchase intention recovery period lasts 21 weeks among the surveyed consumers after the shock. Although the epidemic risk levels of the three cities are different, there is a significant difference only in the recovery period from 5 to 7th weeks. The Cox proportional hazards model results further show that consumers with less risk-averse are more active in resuming purchase intention, and the effect of risk perception is just the opposite. Moreover, risk perception has a moderating effect on risk preference and recovery period. Finally, we put forward three possible policy implications: attaching nucleic acid detection certificate, strengthening cold chain management, and diversifying cooking methods. [ABSTRACT FROM AUTHOR]

The spread of coronavirus disease 2019 (COVID-19) has had a significant impact on business and economies globally. This paper aims to investigate the impact of COVID-19 on firm performance in China's high-tech industries. The population of this paper is 116 companies listed on the sci-tech innovation board (STAR market) of the Shanghai stock exchange. DuPont analysis is applied to measure firm performance including return on equity (ROE), return on assets (ROA), asset turnover ratio (ATO), and profit margin. The empirical results show that the COVID-19 pandemic has a significant and negative impact on ROE, ROA, and ATO in high-tech industries, and research and development (R&D) investment has a moderating role in the relationship between the COVID-19 pandemic and firm performance. The findings may play a guiding role for corporate managers and policymakers to overcome this formidable crisis in the era of COVID-19. [ABSTRACT FROM AUTHOR]

The ongoing COVID-19 shocked financial markets globally, including China's crude oil future market, which is the third-most traded crude oil futures after WTI and Brent. As China's first crude oil futures are accessible to foreign investors, the Shanghai crude oil futures (SC) have attracted significant interest since launch at the Shanghai International Energy Exchange. The impact of COVID-19 on the new crude oil futures is an important issue for investors and policy makers. Therefore, this paper studies the short-term influence of COVID-19 pandemic on SC via multifractal analysis. We compare the market efficiency of SC before and during the pandemic with the multifractal detrended fluctuation analysis and other commonly used random walk tests. Then, we generate shuffled and surrogate data to investigate the components of multifractal nature in SC. And we examine cross-correlations between SC returns and other financial assets returns as well as SC trading volume changes by the multifractal detrended cross-correlation analysis. The results show that market efficiency of SC and its cross-correlations with other assets increase significantly after the outbreak of COVID-19. Besides that, the sources of its multifractal nature have changed since the pandemic. The findings provide evidence for the short-term impacts of COVID-19 on SC. The results may have important implications for assets allocation, investment strategies and risk monitoring. [ABSTRACT FROM AUTHOR]

By employing data from Shanghai and Shenzhen A-share markets for the period of 2019–2020, this paper examines the relationship between the degree of the COVID-19 pandemic’s impact on firms’ cash-holdings levels in China. We find that firms that are severely affected by the COVID-19 pandemic have higher current cash holdings levels, suggesting that the more positive (negative) the management tone in responding to the COVID-19 pandemic impact, the lower (higher) the firm’s current cash holdings. However, future corporate cash holdings decrease considerably irrespective of the corporate sentiment towards COVID-19. The positive sentiment of each firm’s management team towards the supply chain and the government policies results in a relative reduction of current cash holdings, whereas the severe impact on operating performance, especially the impact of the outbreak on the supply chain, demand, production and operations, and government policies, reduces the firm’ s future cash holdings. In addition, the impact of the pandemic has increased the current cash holdings of state-owned enterprises and reduced the future cash holdings of non-state-owned enterprises. Meanwhile, companies located in a city with a higher density of population or companies that experience relatively higher competition in the industry tend to undergo a severer impact on their current and future cash holdings due to the COVID-19 pandemic. Overall, this study sheds the light on stimulating the vitality of enterprise investment and promoting the domestic economic cycle. [ABSTRACT FROM AUTHOR]

Crises constitute ideal opportunities for authoritarian leaders to promote certain narratives, shaping reality in their favor and crafting their own preferred storylines about current events. In other words: they serve authoritarian leaders on a silver platter the opportunity to instrumentalize these unforeseen circumstances to gain domestic political legitimacy by promoting strategic narratives. The COVID-19 pandemic was no exception in this regard. Ever since its onset in early 2020, the Chinese Communist Party (CCP) was among the most active actors worldwide seeking to capitalize on the global crisis for legitimation purposes. Whether applying narratives of governance supremacy, portraying the People's Republic of China as a "global savior," or promoting emotionally appealing nationalistic narratives, the regime used the pandemic as a window of opportunity to rebrand its international role and enhance its domestic legitimacy. When observing the CCP's communication style over the course of 24 pandemic months (2020–2022), however, major shifts become apparent regarding the main narratives crafted in communication with national audiences. Based on this, the paper focuses on the role of such narratives for legitimation claims. Using exemplary media articles collected between the outbreak of the pandemic in China in late 2019 until the harsh Shanghai lockdown in spring 2022, it thus traces the narratives employed by Chinese state elites and explores how they are intertwined with nationalism and broader power claims. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to provide better service to hotel customers during the COVID-19 era. Specifically, this study focuses on understanding the changes in hotel customer satisfaction during the epidemic and formulating effective marketing strategies to satisfy and attract guests. Design/methodology/approach: As the first victim of the COVID-19 virus, China's hotel industry has been profoundly affected and customer satisfaction and needs have also changed. Taking 105,635 hotel reviews obtained from Tripadvisor.com in Beijing and Shanghai as samples, this study explores the changes in consumer satisfaction by using text-mining methods. Findings: The results suggest that there are significant differences in overall ratings, spatial distribution and ratings of different traveller types before and after the epidemic. Generally, customers have higher "tolerance" and are more inclined to give higher ratings and pay more attention to hotel prevention and control measures to reduce health risks after the COVID-19. Research limitations/implications: This paper proves the changes in customer satisfaction before and after the COVID-19 at the theoretical level and reveals the changes in customer attention through the topic model and provides a basis for guiding hotel managers to reduce the impact of the COVID-19 crisis. Practical implications: Empirical findings would provide useful insights into tourism management and improve hotel service quality during the COVID-19 epidemic era. Originality/value: This research explores the hotel customer satisfaction in the field of hotel management before COVID-19 and after COVID-19, by using text mining to analyse mandarin online reviews. The results of this study will suggest that the hotel industry should continuously adjust its products and services based on the effective information obtained from customer reviews, so as to realize the activation and revitalization of the hotel industry in the epidemic era. [ABSTRACT FROM AUTHOR]

Since the end of 2019, the outbreak of COVID-19 has severely affected port production and operation. There is little research on the systematic impact assessment. This study took Shanghai Port as an example and evaluated the impact under different scenarios through establishing a System Dynamics model. It is found that the epidemic mainly has a greater impact on passenger transport, but less on cargo transport. The ports with the function of transportation in highway, railway, and waterway were the key nodes in the international logistics network. More attention should be paid to the impact assessment of COVID-19 on ports' production and operation. It is necessary to strengthen the port's collection and distribution capabilities, improve port production efficiency, and further strengthen port modernization. This research method proposed in this paper can provide a reference for the impact assessment of similar events, and the empirical results can provide a reference for handling the epidemic shock for the port and shipping departments. [ABSTRACT FROM AUTHOR]

In a new round of urban renewal, China's urban space expansion is shifting from incremental development to inventory mining. Residents' demands for improvement of community material environment and community cultural identity are increasing. Meantime, affected by the COVID-19 pandemic in 2019, community resilience has become an urgent problem to be solved in urban communities. Based on resilience theory, TOD theory and other planning concepts, the paper analyzes the vulnerability of Shanghai Caoyang river ring area, and puts forward a multi-level community resilience improvement strategy, including increasing diversified public service facilities, building public pedestrian network, and reshaping public open space to improve the stability, adaptability and resilience of the community, in order to build the development path of resilient communities. The study will provide inspiration for future microrenewal of communities and promote the sustainable development of urban communities. [ABSTRACT FROM AUTHOR]

The inefficiency observed in investment within state-owned enterprises presents a significant practical challenge that can affect the sustainable development of China's economy. To address this issue, this study comprehensively explores the intricate mechanisms underlying the governance implications of mixed ownership on the investment efficiency of listed companies. Drawing on unbalanced panel data encompassing Shanghai and Shenzhen Stock Exchange A-share listed companies in China spanning the period from 2008 to 2022, this study employs a fixed-effects model to unveil the nuanced ways in which mixed ownership influences investment efficiency through the lens of agency costs. This study transcends the boundaries of traditional agency conflicts between managers and shareholders. It delves deeper, illuminating the diverse effects of agency conflicts between significant controlling shareholders and minority shareholders. The results revealed a noteworthy positive correlation between mixed ownership and investment efficiency, and verified the intermediary role of agency costs between mixed ownership and investment efficiency, which is an important result of our research. Heterogeneity analysis indicates that the relationship between the two can be affected by external events, such as during the COVID-19 pandemic, investment efficiency is not the most concerned issue for enterprises. The findings have practical implications for practitioners and policymakers, as they offer avenues for optimizing investment strategies and fostering efficient and effective corporate governance practices. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic highlighted the need for agile governance to effectively address and prevent future global crises. Scholars have examined China's grid system and its application by local governments in controlling the spread of COVID-19. Our research supports these findings, and we further argue that the grid system enhances responsiveness, inclusiveness, and transparency in governance, thereby benefiting both the government and its citizens. Through a detailed case study of grid governance in the M District of Shanghai from July 2020 to August 2022, we explore the operational mechanisms of the grid system. By incorporating the safety valve theory, we propose that the community grid, the smallest administrative unit in China, functions as an institution to issue pre-emptive warnings, integrate communities, and alleviate pressures during times of crisis, contributing to governance agility. As grid governance has constantly been strengthened, this research not only advances our comprehension of the effectiveness of grassroots governance in China, but also offers valuable insights pertaining to crisis management in mega-cities worldwide. [ABSTRACT FROM AUTHOR]

The coronavirus disease 2019 (COVID-19) pandemic has had an unprecedented impact on the entire cruise industry. This research aims to provide an understanding of the impacts of COVID-19 on the cruise industry from various stakeholders and recommend corresponding post-COVID recovery strategies for building a sustainable cruise industry. By conducting 22 semi-structured interviews in Shanghai, China and analysing the interview data using content analysis, this research finds five aspects of the impacts that are worth discussing, namely social, health and well-being, regulatory, operational, and financial aspects. Key findings include the impacts of different stakeholders' opinions, the problems existing in the current cruise industry, and the potential for future improvement. Recommendations and recovery strategies are proposed to mitigate the negative impacts. This research not only explores the impact of COVID-19 on cruise tourism and fosters recommendations in the most fast-developing region (China) but also facilitates researchers and policymakers to understand the effects of the pandemic and proposes future risk mitigation strategies. • This paper investigated the impacts of COVID-19 on the cruise industry. • This paper examined the impacts from five aspects i.e., social, health and well-being, regulatory, operational, and financial aspects. • Strategies were proposed to mitigate the negative impacts. • The findings contribute to the literature by exploring the impact of COVID-19 on cruise tourism in the most fast-developing region. • Recovery strategies were proposed that can facilitate researchers and policymakers to build a more sustainable future. [ABSTRACT FROM AUTHOR]

Background: Multifaceted non-pharmaceutical interventions during the COVID-19 pandemic have not only reduced the transmission of SARS-CoV2, but have had an effect on the prevalence of other pathogens. This retrospective study aimed to compare and analyze the changes of respiratory pathogens in hospitalized children with community-acquired pneumonia. Methods: From January 2019 to December 2020, children with community-acquired pneumonia were selected from the Department of Respiratory Medicine, Shanghai Children's Medical Center. On the first day of hospitalization, sputum, throat swabs, venous blood samples from them were collected for detection of pathogens. Results: A total of 2596 children with community-acquired pneumonia were enrolled, including 1871 patients in 2019 and 725 in 2020. The detection rate in 2020 was lower than in 2019, whether single or multiple pathogens. Compared with 2019, the detection rate of virus, especially parainfluenza virus, influenza virus and respiratory syncytial virus, all decreased in 2020. On the contrary, the prevalence of human rhinovirus was much higher than that in 2019. In addition, the positivity rate for bacteria did not change much over the two years, which seemed to be less affected by COVID-19. And Mycoplasma pneumoniae which broke out in 2019 has been in low prevalence since March 2020 even following the reopening of school. Conclusions: Strict public health interventions for COVID-19 in China have effectively suppressed the spread of not only SARS-CoV2 but parainfluenza virus, influenza virus and Mycoplasma pneumonia as well. However, it had a much more limited effect on bacteria and rhinovirus. Therefore, more epidemiological surveillance of respiratory pathogens will help improve early preventive measures. [ABSTRACT FROM AUTHOR]

In 2022, highly restrictive measures were imposed in China to contain the less deadly Omicron variant of SARS-CoV-2 virus or the COVID-19 virus. This study argues that these measures stemmed from a move away from pragmatic authoritarianism and towards totalitarianism since 2013 and that the lockdown of scores of cities such as Shanghai in 2022 carried quintessential features of totalitarianism. Revived totalitarianism in China has helped explain the longest and likely the most comprehensive strict epidemic control among all nations during the COVID-19 pandemic. The politics and the end of zero-COVID policy in China in 2022 are analysed. [ABSTRACT FROM AUTHOR]

The Chinese government relaxed the Zero-COVID policy on Dec 15, 2022, and reopened the border on Jan 8, 2023. Therefore, COVID prevention in China is facing new challenges. Though there are plenty of prior studies on COVID, none is regarding the predictions on daily confirmed cases, and medical resources needs after China reopens its borders. To fill this gap, this study innovates a combination of the Erdos Renyl network, modified computational model SEIRS , and python code instead of only mathematical formulas or computer simulations in the previous studies. The research background in this study is Shanghai, a representative city in China. Therefore, the results in this study also demonstrate the situation in other regions of China. According to the population distribution and migration characteristics, we divided Shanghai into six epidemic research areas. We built a COVID spread model of the Erodos Renyl network. And then, we use python code to simulate COVID spread based on modified SEIRS model. The results demonstrate that the second and third waves will occur in July–September and Oct-Dec, respectively. At the peak of the epidemic in 2023, the daily confirmed cases will be 340,000, and the cumulative death will be about 31,500. Moreover, 74,000 hospital beds and 3,700 Intensive Care Unit (ICU) beds will be occupied in Shanghai. Therefore, Shanghai faces a shortage of medical resources. In this simulation, daily confirmed cases predictions significantly rely on transmission, migration, and waning immunity rate. The study builds a mixed-effect model to verify further the three parameters' effect on the new confirmed cases. The results demonstrate that migration and waning immunity rates are two significant parameters in COVID spread and daily confirmed cases. This study offers theoretical evidence for the government to prevent COVID after China opened its borders. [ABSTRACT FROM AUTHOR]

Based on grounded theory, the present study summarizes the transcripts from 32 in-depth interviews with Chinese community emergency volunteers to uncover the attributions of community emergency volunteering in China during the COVID-19 pandemic. Community emergency volunteering in China is affected by four main factors: inner awareness, the external environment, national policy, and publicity and advocacy. Among these factors, inner awareness and the external environment are the internal and social psychological attributions, respectively, of emergency volunteering. In addition, publicity and advocacy also play a role in both inner awareness and the external environment and, together with national policies, act on community emergency volunteering. Finally, the high level of trust of some volunteers in their ruling party and government is a deep-seated driving force of their volunteering, a factor that has not been emphasized in past studies. [ABSTRACT FROM AUTHOR]

Quiet areas, such as quiet communities, are encouraged to maintain a harmonious and peaceful urban living environment, and the design approach has drawn increasing attention in recent years. Related residential standards define the thresholds of quietness concerning noise pollution problems. However, the variations in height across floors of high-rise buildings and time in sound environments have not been detailed. The city of Shanghai experienced a citywide lockdown to contain the spread of COVID-19 showing the evidence of quietness with marked reductions in anthropogenic noise. Here, we conducted noise monitoring in a 14-story apartment building surrounded and shielded by other buildings in a typical urban community during and after lockdown. The mean value of the equivalent continuous A-weighted sound pressure level (LAeq) of all 14 floors after lockdown was higher than that during lockdown, and the differences were 3.6 and 3.1 dB during the daytime and night-time periods, respectively. The LAeq values at low heights were slightly lower than those at high heights during and after lockdown. The variations due to the different heights were not great. However, the change tendency from the ground to the top floors was similar and correlated during and after lockdown. The difference between the maximum and minimum values of the floors was 3 dB during the daytime period and 4.5 to 5.1 dB during the night-time period. The day equivalent continuous A-weighted sound pressure level (Lday) and night equivalent continuous A-weighted sound pressure level (Lnight) at the middle building height increased 4.0 and 1.3 dB, respectively, after lockdown. The LAeq change tendency during a daily cycle during and after lockdown was similar and highly correlated. The differences in the frequency characteristics of noise level were larger within the 63 to 2,000 Hz range. We suggest that the building represents a typical quiet living condition in high-density habitats in China. Notably, the difference is approximately 3 to 4 dB, and the patterns of variation in height and time are similar between the absence and limited presence of anthropogenic noise. In practice, it would be useful to consider specific floor level or time of day. [ABSTRACT FROM AUTHOR]

COVID-19 unexpectedly ensnared the entire world and wreaked havoc on global economic and financial systems. The stock market is sensitive to black swan events, and the COVID-19 disaster was no exception. Against this backdrop, this study explores the impact of COVID-19 and economic policy uncertainty (EPU) on Chinese stock markets' returns for the period spanning January 23, 2020 to August 04, 2021. The outcomes of the novel quantile-on-quantile regression analysis revealed that both COVID-19 and EPU had a significant negative impact on both Shanghai and Shenzhen stock market returns, while COVID-19 aggravated the level of economic uncertainty in both financial markets. The quantile causality approach of Troster et al. (2018) validates our main estimations. We conclude that COVID-19 and a high level of EPU enervated the returns of China's leading stock markets. Our study provides key insights to policymakers and market participants to determine the behavior of China's stock market returns vis-à-vis COVID-19 during the peak of the pandemic and beyond. Specifically, our findings apprise portfolio investors to augment their portfolio diversification fronts. [ABSTRACT FROM AUTHOR]

Background: Seasonal influenza may overlap with the COVID-19 pandemic, and children are one of the priority populations for influenza vaccination in China, yet vaccine coverage has been low. This study aimed to investigate the extent of parental influenza vaccine hesitancy (IVH) and to explore the associated factors. Methods: The study was conducted in Shanghai, China, from 1 June 2022 to 31 July 2022, using an anonymous questionnaire to survey a random sample of parents of children aged six months to 14 years. Binary logistic regression models were used to identify factors associated with IVH. Results: Of the 5016 parents, 34.05% had IVH. Multivariate analysis showed that after adjustment for non-modifiable markers (i.e., sociodemographic, health status, and past vaccination status), being affected by negative influenza vaccine news and having higher "complacency" were positively associated with parental IVH. Higher knowledge of influenza vaccination, being recommended by healthcare workers (HCWs), people around having a positive attitude toward influenza vaccine and having higher levels of "confidence" and "convenience" were negatively associated with parental IVH. Conclusions: In China, public health education aimed at modifying vaccination-related attitudes and beliefs, as well as knowledge and societal influences, could help reduce influenza vaccination hesitancy. [ABSTRACT FROM AUTHOR]

Objective: To investigate the effects of cell phone dependence (CPD) on mental health among undergraduates during the COVID-19 pandemic and further identify the determinants that may affect their mental health in China. Methods: The data were collected from 602 students at a medical school in Shanghai via an online survey conducted from December 2021 to February 2022. The Mobile Phone Addiction Index (MPAI) and Depression Anxiety Stress Scale (DASS) were applied to evaluate CPD andmental health, respectively. Independent sample t-test and one-way analysis of variance (ANOVA) were employed to compare the means of continuous variables among categorical groups. Correlations between continuous variables were detected using Pearson’s correlation analysis. Univariable and multivariable logistic regressions were employed to identify the determinants of mental health. Results: Among the 402 eligible students, 73.88% were women with an average age of 20.19 ± 2.36 years. On average, the DASS score was 32.20 ± 11.07, the CPD score was 36.23 ± 11.89, and the cell phone use duration was 7.67 ± 3.61 h/day. CPD was found to have a negative effect on mental health among college students in Shanghai. Additionally, cell phone use duration, age, being senior students, faculty-student relationship, insomnia, tobacco use, obesity, and life satisfaction were clarified as contributing factors to mental health among college students. Conclusion: High degree of CPD could have a negative effect on college students’ mental health, which might lead to some psychological problems. Appropriate actions and effective interventions are highly needed to prevent severe psychological injuries among college students in China. [ABSTRACT FROM AUTHOR]

The COVID‐19 epidemic broke out in China in January 2020, which triggered the largest wave of corporate philanthropic donations since the 2008 Sichuan earthquake. Based on A‐share listed firms in the Shanghai and Shenzhen stock exchanges in 2020, we study whether substantive and symbolic corporate social responsibility (CSR) strategies affect corporate philanthropic responses during the COVID‐19 crisis. We use the lagged annual donation and technical dimension scores (T scores) of rankins ratings (RKS) as proxies of CSR performance and CSR disclosure and then define the CSR gap as the gap between the two. The results show that substantive and symbolic strategies cause firms to have material differential responses in the COVID‐19 crisis. Specifically, the CSR gap is negatively related to the possibility and the level of crisis donation. In addition, (1) this difference is more pronounced in the earlier period of the COVID‐19 crisis; (2) the negative correlation is more pronounced in private firms; and (3) the crisis donation of firms with either strategy obtains no different response from the capital market. Our evidence suggests that the established CSR strategy influences the substantive response of Chinese firms to public emergencies, but their substantive response does not result in different reactions in the capital market. [ABSTRACT FROM AUTHOR]

The novel coronavirus COVID-19 has severe consequences for countries around the globe. The purpose of this study to find out the impact of COVID-19 on China's sectoral indices in the short and medium run. This research investigates the impact of COVID-19 on stock exchange index, exchange rates, money lending, and oil prices in the Chinese economy in the short and medium run by using secondary data of different sectoral sectors. The outcomes show that COVID-19 has strongly influenced these sectors. The Shanghai stock exchange is showing a decline in transactions due to this pandemic in the short run. But in the medium run, the outcome shown that Shanghai stock exchange has upward trend. The pandemic has reduced exchange rate of Chinese RMB to US dollar in short-run, but in medium run, Chinese RMB has gained appreciation against US dollar. [ABSTRACT FROM AUTHOR]