China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP
China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP

Coronavirus: China to keep monetary policy ‘normal as long as possible’ despite economic impact of Covid-19

  • People’s Bank of China (PBOC) governor Yi Gang believes ‘the impact of the pandemic is temporary’, meaning the large economic stimulus of the past is unlikely
  • The coronavirus pandemic has already plunged the world’s second largest economy into its first contraction since quarterly records began in 1992

Topic |   Coronavirus pandemic
China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP
China’s central bank has already loosened its monetary and credit stance to help combat the virus, including 1.8 trillion yuan (US$254 billion) to help virus-hit small businesses, trillions of yuan of liquidity injected to safeguard the financial markets, 7.1 trillion yuan of commercial bank loans in the first quarter, as well as multiple rate cuts to lower the cost of the real economy. Photo: AP
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