China will print tens of trillions of yuan to support the economy

Китай напечатает десятки триллионов юаней для поддержки экономики

The people’s Bank of China intends to support the economy amid kornkreise

Despite the declared victory over the pandemic, the Chinese economy is recovering slowly.

The people’s Bank of China plans to temporarily conduct stimulating monetary policy in order to avoid falling economy amid coronavirus crisis. About it reported on June 19 агентствоReuters.

It is noted that by the end of this year, new loans are likely to reach a record 20 trillion yuan (about 2.8 trillion dollars), up from 16.81 trillion yuan in 2019, while total social financing can increase by more than 30 trillion yuan (4.2 trillion dollars).

At the same time, the leadership of the Central Bank of the PRC declares that it is necessary to pay attention to the consequences of such actions and “to proactively develop mechanisms for the release of the tools (incentives)”.