The GT does not outline what the 30 separate measures are unfortunately.
The piece says the outbreak will subtract 2% points from GDP growth and, in response:
- officials have moved swiftly to implement growth stabilizing measures
GT lead with the People's Bank of China action to come today
- PBOC to inject 1.2 trillion yuan into the market … through reserve repurchase operations
Its a shame the GT does not elaborate with the info I posted earlier:
- the net effect is not a 1.2 tln yuan injection due to slightly over 1 tln yuan of funds maturing today.
- The net injection is in the order of 150bn yuan.
Not doing so raises the question they have been not quite so forthright elsewhere. Which is not helpful. Anyway, this is what the article says further (in brief)
four government agencies that oversee the economy, including the Ministry of Finance (MOF), the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission (CSRC), issued financial support aimed at combating the coronavirus … 30 measures include
- CSRC - would release and study tools to prevent risks and ease market panic
- MOF released measures including offering loans with up to 50 percent discounts on interest to companies
- Special financial services will also be provided for those affected by the epidemic, along with small and medium-sized businesses
- Other agencies, such as the Ministry of Commerce and the National Development and Reform Commission measures include providing help for companies to resume production and expand foreign supplies for necessary products during this critical period.
