Sunday China's Central Bank said it will spend 1.2 trillion yuan (about 173 billion dollars) to support the national fight against the deadly virus, which is expected to significantly slow down the economic growth of the PRC.
the people's Bank of China (PBOC) in a statement said that Monday will start the operation of reverse repurchase in the amount of 1.2 trillion yuan, to maintain "reasonable and sufficient liquidity" in the banking system and stable foreign exchange market during the epidemic.
He added that the overall liquidity of the banking system will be 900 billion yuan (about 129 billion dollars) more than in the same period last year.
Saturday NBK also announced a series of measures to increase monetary and credit support of businesses that help in the fight against viral epidemics such as medical companies. He urged financial institutions to provide "sufficient credit resources," hospitals and other healthcare organizations.
the Outbreak is caused by a coronavirus 2019-nCoV, began in mid-December, 2019 Wuhan city of Hubei province in Central China. January 22, Wuhan city is closed on quarantine, and later were also isolated several surrounding cities. The virus spreads very rapidly: currently, this virus has infected more than 14,000 people in China and claimed more than 300 lives.
last year, economic growth in China was 6.1 percent, the slowest over the last three decades. Analysts warn that China's economy will continue to slow the rate of growth if the spread of the virus, reminiscent of the SARS virus (SARS), will last for a long period.
