They already extended the holidays and I know a lot of manufacturers rely on pre and post Lunar production cycles. We are going to find out what happens when China goes offline which is not going to be pretty. I fully expect some products to run short and prices to double within days.
I also think the Chinese govt is trying to throw money at this problem. They got caught mismanaging the epidemic and injecting money into the market isn’t going to calm public panic. It will do the exact opposite.