China’s Finance Sector Sees 1137 COVID-19 Infections, 42 Deaths: PBOC

Data from the Chinese central bank indicate that over 1000 members of the finance sector have contracted COVID-19.

At a press conference held on 22 March People’s Bank of China (PBOC) deputy-governor Chen Yulu (陈雨露) said that 1137 members of the Chinese finance sector have contracted COVID-19, of which 42 have passed away.

Chen highlighted efforts by PBOC to keep China’s economy afloat during efforts to deal with the COVID-19 outbreak, including:

• The provision of short-term and medium-and-long term liquidity via open market operations and targeted cuts to the required reserve ratio.
• Maintaining rationally ample liquidity in the banking system.
• Prompt establishment of 300 billion yuan in specialist re-loan and an additional 500 billion yuan in re-loan re-discount quotas, to provide targeted support to work resumption and disease containment.

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