Chinese policymakers are readying measures to support an economy jolted by a cor...
BEIJING - Chinese policymakers are readying measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth, policy sources said.
“Currently, monetary policy is being loosened, but the central bank will follow a step-by-step approach and watch the virus situation,” said a policy insider. Support measures will be concentrated on the retail, catering, logistics, transportation and tourism sectors, which are likely to be hit hard and are especially vulnerable to job losses, they said.
“It’s necessary to step up policy support for the economy but we don’t need to use strong stimulus at this stage,” said one of the policy insiders.
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