New bank loans in China totalled 7.1 trillion yuan (US$1.01 trillion) in the first quarter of 2020, a large increase from 5.81 trillion yuan for the same period last year, according to central bank data. Photo: AP

Coronavirus: China claims stimulus ‘10 times more efficient’ than US Fed, as new loans top US$1 trillion

  • New loans in China topped US$1 trillion in the first three months of the year, but People’s Bank stops short of all-out stimulus
  • Central banker told press conference in Beijing that China’s monetary response ‘10 times’ more efficient than US Federal Reserve
Topic |   China economy
New bank loans in China totalled 7.1 trillion yuan (US$1.01 trillion) in the first quarter of 2020, a large increase from 5.81 trillion yuan for the same period last year, according to central bank data. Photo: AP
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