Workers have begun returning to shuttered factories and offices, but restarting the Chinese industrial machine has proved to be more difficult than shutting it down.

Beijing has taken a top-down approach to the recovery. Regulators have told bankers to be lenient about debt payments. The national education ministry has opened more graduate school spots for students who face unemployment this spring. And cities are offering loans to residents and businesses.

The hurdles: Cash-strapped consumers who missed paychecks may spend less, while businesses may have lower overseas demand. And as people leave isolation, officials could face a new crop of infections.

Details: More than 50 million migrant workers have not yet returned to their jobs, according to official data. And signs of fraud have already emerged — like business owners trying to burn enough electricity, even with no output, to qualify for subsidies.

Amid a market meltdown: Global stocks fell sharply again on Thursday, as President Trump’s attempt to address the coronavirus outbreak failed to ease concerns. The S&P 500 Index was down nearly 7 percent in afternoon trading.