(Yicai Global) March 30 -- China's Ministry of Industry and Information is encouraging manufacturers of medical equipment, including ventilators, to increase production to help the global battle against Covid-19.

The government and corporations will work together to ensure supplies of key equipment and those making the products will enjoy preferential policies governing tax, finance and social security, Deputy Director Zhang Kejian said in an online press briefing today.

The announcement quickly birthed spikes in the share price of such firms, with Zhuhai Hokai Medical Instruments [SHE:300273] hitting the 10 percent limit before falling to CNY6.66 (94 US cents), a 0.6 percent gain, as of 10.44 a.m. Jiangsu Yuyue Medical Equipment & Supply [SHE:002223] also neared limit up but tapered off to CNY39.66, a 4.09 percent rise over its previous close.

Governments around the globe had confirmed 638,146 cases of Covid-19 in 202 countries and regions as of midnight Beijing time today, according to World Health Organization data. Some 30,105 people have died from the virus.