Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

China companies issue staff with masks, travel warnings as virus outbreak fears grow

Published 22/01/2020, 18:03
Updated 22/01/2020, 18:10
China companies issue staff with masks, travel warnings as virus outbreak fears grow

By Engen Tham and Scott Murdoch

SHANGHAI/HONG KONG (Reuters) - Companies across China are handing out masks and warning staff to avoid the central city of Wuhan amid fears that the new flu-like coronavirus will rapidly spread with much of population embarking on travel for Lunar New Year holidays.

Firms from Foxconn (TW:2317) to Huawei Technologies and HSBC Holdings (L:HSBA) have issued advisories. The government has urged members of the public to be extra careful if showing symptoms of a fever or a cold, and has asked travel and other companies to accommodate people who might be affected.

The death toll rose to nine on Wednesday with more than 470 confirmed cases, Chinese health officials said.

At Foxconn's Lunar New Year party on Wednesday, founder Terry Gou advised Taiwan-based employees not to visit mainland China during the week-long holiday period.

"Colleagues and their families who have come back from Wuhan are all in isolation at home. The infection is spreading very fast," Gou added.

Company workers in Wuhan, the centre of the outbreak, have been wearing facemasks and getting their temperature checked, the Apple (O:AAPL) supplier also said.

Huawei Technologies has asked staff to reduce travel to Wuhan and avoid contact with animals, adding that it had set up an outbreak prevention and control team in the city to carry out disinfecting activities, according to an internal note seen by Reuters.

Citic Securities (SS:600030) and investment bank China International Capital Corp (HK:3908) have asked employees to avoid trips to Wuhan and Hubei, the province of which it is the capital, if they can, sources said. Employees who travel there are required to report the trip.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Citic has also asked staff to voluntarily quarantine themselves if they do travel to Hubei.

Huawei and Citic Securities did not respond to requests for comment. A CICC representative declined to comment.

HSBC said it had advised employees that travel can continue to Wuhan, but has asked them to be extra vigilant.

"We have stepped up cleaning measures at all our premises and all employees have been reminded to be more mindful of hygiene procedures and to stay at home or see a doctor if they feel unwell in any way," a spokeswoman said in an email.

Didi Chuxing, China's largest ride-hailing company, said this week it would issue masks and disinfectant to its drivers and would let passengers and drivers in Wuhan cancel trips for free in the days up to Jan. 31. The company would bear the costs.

Anthony Renshaw, medical director for health consulting at International SOS, said more than 100 multinational companies had contacted the medical and travel security services firm so far for information and advice, mainly about travel to Wuhan but also for international planning.

"Some companies are wondering whether they should have something like this, a global health incident plan. If they do have something like this many of them are reviewing it in the context of the coronavirus incident," he said.

"Companies are at the moment raising their crisis teams and having regular meetings about the situation and getting briefings.... A lot of multinationals are seeing this as a key risk for business resilience."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

General Motors Co (N:GM), the No.1 U.S. automaker, said it has placed a temporary restriction on travel to Wuhan, where the company has a manufacturing base as part of a joint venture with China's SAIC Motor (SS:600104).

U.S. package delivery company FedEx Corp (N:FDX) said it was supplying surgical masks, hand sanitizers and alcohol wipes to team members and vendors, and disinfecting facilities at Wuhan, where it has express shipping stations.

Travel booking platforms such as Trip.com (O:TCOM) have said users can cancel travel plans to Wuhan for free, while Shanghai's Disneyland said it will waive rescheduling fees for entry and hotel ticket buyers within six months of the purchase date, given that customers might be changing their travel plans.

Hong Kong's Cathay Pacific Airways Ltd (HK:0293) said it will allow passengers to Wuhan to change or cancel flights without charge through Feb. 15 and permit cabin crew to wear masks on flights to the mainland.

Tencent Holdings (HK:0700) also cancelled an annual event in Shenzhen at which founder Pony Ma and other top executives hand employees Lunar New Year red envelopes containing cash. A spokesman for the tech giant declined to comment if it was due to the virus.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.