The world’s second largest economy is widely estimated to suffer a decline of around a few percentage points in the first quarter of 2020 as the virus forced the vast majority of Chinese business activities to a standstill. Photo: AP

China floods economy with cash with coronavirus outbreak set to hit economic growth hard

  • Commercial banks extended 3.34 trillion yuan (US$477 billion) of credit in January, an all-time high for bank lending in a single month, the People’s Bank of China said
  • Aggregate financing also reached a new high of 5.07 trillion yuan (US$724 billion)
Topic |   China economy
The world’s second largest economy is widely estimated to suffer a decline of around a few percentage points in the first quarter of 2020 as the virus forced the vast majority of Chinese business activities to a standstill. Photo: AP
READ FULL ARTICLE