By Cheng Leng, Yingzhi Yang and Ryan Woo
By Cheng Leng, Yingzhi Yang and Ryan Woo
BEIJING, Feb 10 (Reuters) – Greater than 300 Chinese language companies together with Meituan Dianping 3690.HK, China’s largest meals supply firm, and smartphone maker Xiaomi Corp 1810.HK are in search of financial institution loans totalling not less than 57.four billion yuan ($8.2 billion) to melt the affect of the coronavirus, two banking sources stated.
The companies, together with China’s dominant experience hailing service supplier, Didi Chuxing Expertise Co, Megvii Expertise Inc and Qihoo 360 Expertise Co, have been both concerned within the management of the epidemic or had been hardest hit, the sources instructed Reuters on Monday.
China is struggling to comprise the epidemic, which has killed greater than 900 folks, the overwhelming majority on the mainland, and contaminated greater than 40,000.
Authorities have cordoned off cities, suspended transport hyperlinks and shuttered services the place crowds collect, hammering financial development which one senior economist stated might gradual to five% or much less within the first quarter.
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