Since the outbreak of the COVID-19 pandemic, the Chinese economy was the first to feel the impact. Instead of massive stimulus measures seen around the world, the Chinese government has placed more focus on liquidity at the National and local levels.
To support the country’s economy, the central government has been working to infuse capital into banks and localities to spur development and infrastructure. Several rounds have already been undertaken since the beginning of the crisis.
Incentives have been deployed to targeted, priority industries, including clean vehicles.
Additional funding has been allocated for low-income families with further support for unemployed residents due to the crisis.