This evening, IHG quietly extended its flexible cancellation and change policy for stays up to June 30. It had previously been through April 30. Free nights earned through credit cards are also being extended, depending on when they were earned. No new information on status requirements. Below is information directly from IHG's travel advisory page. Note the exception regarding China:

Cancellation policy & booking flexibly
Given the flexibility our guests and customers need right now we have implemented the following policies:

For Existing Bookings:
Existing bookings (bookings made by April 6, 2020) at all IHG hotels* can be changed or cancelled for stays up to June 30, 2020, noting that:

Important Information:

• Hotels are subject to local law in the market in which they operate. Therefore, government legislation and regulations may supersede this policy in specific circumstances. (including the type and timing of the refund).
• If you cancel a rate which required a deposit or payment in advance, we will do everything we can to process your refund as quickly as possible. Refunds (which may be vouchers where required by local law) may take up to 90 days for hotels to process from the date of cancellation. Reservations may be changed without a fee but may result in different pricing.
• Exclusions may apply for time periods with special event restrictions or peak demand weeks.
• Bookings via a third-party: For bookings made through an online booking platform (e.g. Booking.com, Expedia) or third-party travel professionals, please contact them directly – we have advised these companies of our cancellation policy and you should refer to their terms and conditions.
• Groups & Meetings Bookings: We will work with customers to manage any changes needed to Group & Meeting bookings on a case by case basis. Our hotels are actively supporting groups and meetings organizers to address the needs of each group, including moving event dates to another time, in line with terms and conditions of that booking. Please contact the hotel the booking was made with to discuss further.

*Cancellation fees for existing and new domestic bookings at all IHG hotels in Mainland China, Hong Kong SAR, Macau SAR and the Taiwan region will be waived for stays up to April 30, 2020

Additionally:

Anniversary night certificates earned through IHG Rewards Club credit cards (USA & UK):

We are extending the expiration date of anniversary and free night certificates that are set to expire in 2020. Certificates expiring from March 1, 2020 can now be used through December 31, 2020.

Certificates issued in 2020 will have an 18-month redemption time period.