Shanghai banks issue 1.31 bln yuan in cheap loans amid virus outbreak

Financial Post | Feb 20, 2020 at 6:59 AM
  • Banks in Shanghai have issued 1.31 billion yuan ($186.74 million) in cheap loans to 48 key firms to help tackle a coronavirus outbreak that has dampened economic activity, a local government official said on Wednesday.
  • China’s benchmark loan prime rate (LPR) is 4.05%.
  • This has caused economic disruptions.