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China floods economy with cash with coronavirus outbreak set to hit economic growth hard

Summary:
[unable to retrieve full-text content]Chinese banks flooded the economy with a record amount of bank credit at the start of 2020, a move aimed at protecting fragile growth amid the coronavirus outbreak.Commercial banks extended 3.34 trillion yuan (US7 billion) of credit in January, an all-time high for bank lending in a single month, the People’s Bank of China said on Thursday. The figure is almost equivalent to the country’s total bank loans for the whole of 2007.The net increase of medium and long-term lending for corporations…

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[unable to retrieve full-text content]
Chinese banks flooded the economy with a record amount of bank credit at the start of 2020, a move aimed at protecting fragile growth amid the coronavirus outbreak.Commercial banks extended 3.34 trillion yuan (US$477 billion) of credit in January, an all-time high for bank lending in a single month, the People’s Bank of China said on Thursday. The figure is almost equivalent to the country’s total bank loans for the whole of 2007.The net increase of medium and long-term lending for corporations…

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