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
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

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
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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