Coronavirus: China to inject billions into economy amid outbreak
China will pump 150bn yuan (£16.4bn) into its economy tomorrow to help protect it from the impact of the coronavirus outbreak.
China’s central bank said it had taken the decision to maintain liquidity in the banking system and stabilise the currency market.
It comes as the country reopens its stock markets after extending its Lunar Holiday in a bid to curb the spread of infection.
The country is facing increased isolation as more countries introduce travel restrictions and airlines cancel flights.
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The coronavirus risks worsening a slowdown in China’s economy that is already burdened by tariffs from its trade war with the US.
It saw economic growth of 6.1 per cent last year, the slowest in around three decades.
The death toll has risen to 305 and it has infected more than 14,000 people. The first fatality outside of China has been confirmed in the Philippines.
The 44-year-old man was from Wuhan, the epicentre of the coronavirus outbreak, and was one of two confirmed cases in the Philippines.
The announcement came as the Philippines joined countries like the US and Australia in banning the arrival of foreigners from China.
The first group of evacuated British nationals arrived in the UK on Friday, with a further 11 being flown back today.
Public Health England said on Friday that there had been two confirmed cases of the coronavirus in the city of York.
A UK-wide puvlic health campaign has been launched to provide advice to the public on how to slow the spread of infection.
Health secretary Matt Hancock said: “While two cases of Coronavirus have been confirmed in the UK, our world-class NHS is well prepared to manage these types of incidents. We are doing everything we can to protect the public.”