Recently, a novel coronavirus pneumonia (2019–nCoV) outbreak occurred in Wuhan, China, rapidly spreading first to the whole country, and then globally, causing widespread concern.

On 31st December 2019, the Wuhan Municipal Health Commission released a report stating that 27 cases of pneumonia had occurred in Wuhan. These pneumonia patients were associated with the Wuhan South China seafood market and, according to the initial analysis, the disease was viral pneumonia. Later, many more infected people were identified in Wuhan, with an indication that this was a new type of coronavirus pneumonia (2019–nCoV). Less than a month later, the outbreak turned into a national crisis, with infected people in all parts of the country, many of who had contact with people from Wuhan or a history of travel in the area. As of 10 o’clock on 23rd January 2020, the Wuhan government shut down all subways, ferries, and long-distance buses in the city to prevent and control the spread of the new coronavirus pneumonia. Wuhan citizens were not allowed to leave Wuhan unless they have special reasons, and the routes to the airport and railway station were also closed.

From the perspectives of early warning and identification of risk, risk monitoring, and analysis, as well as risk management and handling, Lili Mi and colleagues propose corresponding solutions and recommendations, which include institutional cooperation, and to inform national and international policy-makers.

Please click here to read the full “Risk Management Analysis for Novel Coronavirus in Wuhan, China” article in the Journal of Risk and Financial Management, written by Xiao-Guang Yue, Xue-Feng Shao, Rita Yi Man Li, M. James C. Crabbe, Lili Mi (Department of Business Strategy and Innovation), Siyan Hu, Julien S. Baker and Gang Liang.