Coronavirus: China says to support firms to resume production, will maintain prudent monetary policy, East Asia News & Top Stories

green and white leafed plantsBEIJING (REUTERS) – China will help companies resume production as soon as possible, the vice-governor of the central bank said on Saturday (Feb 15).

The world’s second-biggest economy has been hit by a fast-spreading coronavirus epidemic that has killed more than 1,500 people.

Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, told a news conference China would accelerate lending and credit support for key investment projects, while supporting small and private firms hit by the virus outbreak.

Meanwhile, China will maintain its prudent monetary policy, vice-governor of the central bank said on Saturday.

Fan Yifei, vice-governor at the People’s Bank of China, told a press briefing that consumer prices were unlikely to rise sharply.

He added that non-performing loan ratio remained relatively low in China and he saw space to deal with bad loan problems.

Separately, Xuan Changneng, vice-head of the country’s foreign exchange regulator, told the briefing China was expected to maintain a small current account surplus and keep a basic balance in international payments.

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