China CBIRC Chair Zhou: Coronavirus will not have big impact on China's financial system
|China Banking and Insurance Regulatory Commission Vice-Chair Zhou said on Friday, coronavirus will not have a big impact on China's financial system.
Additional Quotes:
Expects non-performing loan ratio of banks to rise somewhat.
China has ample resources to cope with rises in bad loans.
Banks have increased lending, cut interest rates for virus-hit firms.
Will boost credit support for small firms, deal with irrational fees on small firms.
The market mood in Asia remains soured, as China remains in a state of panic amid rising coronavirus death toll and increasing concerns over its negative economic impact.
The safe-have yen is on the front foot vs. the US dollar around 109.90 region, as the focus now remains on the Chinese trade data for fresh impetus.
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