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 corporations are in search of financial institution loans totalling a minimum of 57.four billion yuan ($8.2 billion) to assist to melt the influence of the coronavirus outbreak, 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 sluggish to five% or much less within the first quarter.
Prolonged manufacturing facility closures, in the meantime, will sluggish manufacturing and weigh on world provide chains.
Among the many potential debtors are meals supply big Meituan Dianping 3690.HK, smartphone maker Xiaomi Corp 1810.HK, ride-hailing supplier Didi Chuxing Know-how Co, facial recognition start-up Megvii Know-how Inc and web safety enterprise Qihoo 360 Know-how Co, the sources mentioned, including that the businesses in search of loans have been both concerned within the management of the epidemic or had been hardest hit.
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