China Rolls Out 30 Financial Measures to Support Epidemic Control Efforts

In order to boost financial support for epidemic prevention and control and for the real economy, on 1 February, China announced 30 financial measures to bolster the economy and aid the fight against the novel coronavirus outbreak. The measures fall into the following five areas:

1. Maintaining reasonable and adequate liquidity through increased monetary credit support
2. Reasonable allocation of financial resources to ensure day-to-day financial services continue
3. Protecting the safety of financial infrastructure to ensure stability of market operations
4. Establishing a “green channel” to increase the efficiency of foreign exchange and cross-border RMB businesses
5. Strengthening of financial leadership to provide strong political safeguards in relation to epidemic prevention and control

Full details can be found in the Circular on Fur­ther Strength­en­ing Fi­nan­cial Sup­port for the Pre­ven­tion and Con­trol of the Novel Coro­n­avirus Pneu­mo­nia Epidemic (Yin Fa No. 29 [2020]) issued jointly by the People’s Bank of China, the Ministry of Finance, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange.

Source: People’s Bank of China