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 firms are searching for financial institution loans totalling at the least 57.four billion yuan ($8.2 billion) to assist to melt the impression of the coronavirus outbreak in China, two banking sources mentioned.
Authorities have cordoned off cities, suspended transport hyperlinks and shuttered services the place crowds collect, hammering financial progress that one senior economist mentioned might gradual to five% or much less within the first quarter.
Prolonged manufacturing facility closures, in the meantime, will gradual manufacturing and weigh on international provide chains.
Among the many potential debtors are meals supply large Meituan Dianping 3690.HK, smartphone maker Xiaomi Corp 1810.HK, ride-hailing supplier Didi Chuxing Expertise Co, facial recognition start-up Megvii Expertise Inc and web safety enterprise Qihoo 360 Expertise Co, the sources mentioned, including that the businesses searching for loans have been both concerned within the management of the epidemic or had been hardest hit.
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