Chinese Banks Provide $33.76 Billion in Lending Support to Coronavirus Containment Efforts

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The peak body for China’s banking sector says it has provided copious lending support to domestic efforts to contain the novel coronavirus.

Data from the China Banking Association (CBA) indicates that as of 8 February its member entities had provided a total of 236 billion yuan (approx. USD$33.76 billion) in lending support to enterprises or organisations participating in coronavirus containment work.

This included:

  • 30.555 billion yuan from the China Development Bank,
  • 14.391 billion yuan from the China Agricultural Development Bank and China Exim Bank,
  • 50.481 billion yuan from the big six state-owned banks (Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, ICBC and the Postal Savings Bank of China),
  • 66.459 billion yuan from China’s 12 joint-stock banks, including China Merchants Bank, China Everbright Bank and China Minsheng Bank,
  • 35.068 billion yuan from 51 municipal commercial banks and private banks,
  • 33.527 billion yuan from nationwide rural credit organisations,
  • 5.749 billion yuan from five foreign-invested banks and Taiwan-invested banks.

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