The latest data from China’s banking regulator points to the extension of a copious volume of credit by domestic lenders to efforts to contain the impacts of the novel coronavirus.
At a State-Council press conference held on 13 March the China Banking and Insurance Regulatory Commission (CBIRC) said that Chinese banking sector financial institutions had provided lending support of over 1.4 trillion yuan (approx. USD$199.8 billion) to efforts to combat the coronavirus.
Yang Liping (杨丽平), CBIRC chief inspector, said that 4.2 trillion yuan in new renminbi loans had been extended by Chinese financial institutions in the first two months of 2020, with an increase in support for private enterprises and micro-and-small enterprises.
Related stories
Financial Inclusion Loans Rise 10.1% in 2019 to Reach 36.9 Trillion Yuan
Anti-coronavirus Lending from Chinese Banks Exceeded 1.07 Trillion Yuan at End of February
Chinese Banking Sector Extends over USD$112B in Anti-Coronavirus Loans