Chinese companies received loans of $ 136 billion to combat coronavirus

UNITED STATES (OBSERVATORY NEWS) — Chinese enterprises involved in the fight against a new type of coronavirus received 953.5 billion yuan (about $ 136 billion) of borrowed funds from banks and insurance companies.

This was announced at a press conference on Thursday by the head of the risk management department of the Committee on Regulation of Banking and Insurance, Xiao Yuanqi.

“As of February 26, the volume of loans issued to combat the spread of the virus exceeded 953.5 billion yuan,” Xinhua News Agency quoted Xiao Yuanqi as saying.

He noted that “after the outbreak of the coronavirus, the committee called on banking and insurance organizations to provide the necessary funding for preventive measures, production and procurement of medical products, as well as the construction of public health infrastructure.”

According to Xiao Yuanqi, Chinese financial institutions will continue to provide support to companies involved in the fight against coronavirus.


This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: [email protected]

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.