Chinese Central Bank Comes to the Rescue of Companies in the Affected Region
Chinese Central Bank Comes to the Rescue of Companies in the Affected Region. The Chinese central bank (PBOC) will intervene in the area affected by the coronavirus.
According to statements issued on Saturday, monetary instruments are used to help companies.
De Volksbank makes 300 billion yuan, available to banks to be able to provide money to companies. The regulators also give firms more time to maintain liquidity.
Loans to companies affected by the virus may not be withdrawn. Small businesses, in particular, must be spared, says the PBOC.
The central bank also advocates that banks lower interest rates on loans to affected companies. The regulators also give firms more time before they have to present their figures for 2019 and the first quarter of 2020.