Chinese Banks Issue over 1.4 Trillion Yuan in Loans to Support Coronavirus Containment: CBIRC

67

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

PBOC Sched­ules Tar­geted Re­serve Cut for 16 March, Ex­pects to Un­leash 550B Yuan in Long-term Funds

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here