China to Supply 1.2 Trillion Yuan to Money Markets Amid Virus Spread

By Kyodo News 3 February 2020

BEIJING—China’s central bank said Sunday it would supply 1.2 trillion yuan (about US$173.8 billion or 249.11 trillion kyats) to money markets on Monday as the country’s government struggles to combat an outbreak of a new pneumonia-causing coronavirus.

Amid growing fears that the world’s second-biggest economy will face a sharp downturn in the aftermath of the virus spread, the latest move by the People’s Bank of China was apparently aimed at securing the stability of financial markets on Monday.

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