BEIJING: China plans to revive its economy and further boost smaller businesses amid external uncertainty as the Covid-19 (coronavirus) outbreak continues to spread worldwide, according to the country's central bank on Friday (April 3).
"The shock to the global economy brought by the outbreak will be severe," said Liu Guoqiang, vice governor of the People's Bank of China , at a press conference, adding that the outbreak has already posed pressures on industrial chains, trade and market expectation.
For the next step, the PBOC would keep market liquidity reasonably sufficient to meet practical demand and avoid either a cash shortage or soaring inflation, and the increase in M2 money supply and aggregate financing should match or be slightly higher than the nominal GDP growth, he said.
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