Chinese President warns coronavirus measures could threaten economy: Report

Chinese President Xi Jinping has warned senior officials last week that efforts to contain dely coronavirus h gone too far and is threatening ecomy. Sources of an international media outlet h revealed information a few days before China anunced measures to contain effects of nationwide outbreak. 

As mainland is suffering from slowest growth in nearly three deces, Chinese leers reportedly are er to catch a balance between protecting an alrey stagnant ecomy and coronavirus outbreak which has w killed more than 1,000 people with more than 40,000 confirmed cases. 

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Decrease 'restrictive measures'

According to international media reports, it was after review of reports on outbreak from National Development and Reform Commission (NDRC) along with or ecomic departments, that Chinese President told local officers last week that some actions to prevent coronavirus spre are damaging ecomy. two people who disclosed information to Reuters also mentioned that Xi urged officials to refrain from 'more restrictive measures'. 

local authorities outside Chinese city of Wuhan which is epicentre of vel virus outbreak have closed schools and factories, along with sealing off ros and railways. Public garings and events have also been prohibited along with shutting down of local compounds. It is se measures which according to Chinese President have been impractical and have engraved fear among alrey scared public of SARS-like virus. Meanwhile, China's ecomic growth last year was slowest in last three deces with only 6.1 per cent.  

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Chinese Central Bank injects $173 Billion

While Xi reportedly voiced his concerns with slowing ecomy, China's central bank h said last week that it will pump $173 billion into ecomy to help fight nationwide outbreak of Coronavirus. People's Bank of China released a statement which said that it would launch 1.2 trillion yuan reverse purchase operation to maintain 'reasonable abundant liquidity' in banking system. 

In order to furr stabilise currency market as  nation deals with epidemic, banking system would be 900 billion yuan more than it was in same period last year. Furrmore, PBOC also urged financial institutions to provide 'sufficient credit resources' to hospitals along with or medical facilities. latest development of injecting liquidity into financial system came after Coronavirus outbreak took a toll on an alrey slowing ecomy.  

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