China’s new loans stood at 906 billion yuan (US$130 billion) in February, down sharply from a record 3.34 trillion yuan (US$480 billion) in January. Photo: Reuters

Coronavirus: China consumers, small firms shy away from borrowing even as Beijing readies more support

  • People’s Bank of China (PBOC) is expected to again cut banks’ reserve requirement ratio (RRR) in the coming days as its continues to try to boost loans
  • Households in China reduced debt in February because of fear over the outlook due to the impact of the coronavirus on the economy
Topic |   Coronavirus pandemic
China’s new loans stood at 906 billion yuan (US$130 billion) in February, down sharply from a record 3.34 trillion yuan (US$480 billion) in January. Photo: Reuters
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