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


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.

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