Supermarkets have been among the few businesses to do well during the virus outbreak as Chinese residents stock up on essentials and stay home [File: Third party via Reuters]

China will be able to achieve its long-term goal of doubling gross domestic product (GDP) and incomes this year despite the impact from a coronavirus outbreak, an influential economist at a top government think-tank said on Wednesday.

The virus outbreak will only have a one-off impact on the economy and demand will recover quickly, Cai Fang, the vice head of the Chinese Academy of Social Sciences (CASS), said in an article in the People’s Daily, the newspaper of the Chinese Communist Party.

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“Although the temporary impact caused by the epidemic will slightly reduce

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