Banks in China cut interest rate for small companies in Hubei province

In further efforts to counter the negative effect of the Chinese coronavirus outbreak in the country, the banks in China cut interest rates for small companies in Hubei province.

Note that Wuhan is in Hubei province, the epicentre of the virus epidemic.

This comes after the People’s Bank of China (PBOC) announced on Tuesday that it would inject "reasonable and sufficient liquidity" in the money market.

China extended the Lunar New Year holiday until February 3^rd, in the face of the virus spread.