{"id":13902,"date":"2020-04-16T15:33:16","date_gmt":"2020-04-16T14:33:16","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.fr\/?p=13902"},"modified":"2020-04-16T15:33:16","modified_gmt":"2020-04-16T14:33:16","slug":"china-first-signs-of-stimulus","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-first-signs-of-stimulus\/","title":{"rendered":"CHINA : FIRST SIGNS OF STIMULUS"},"content":{"rendered":"<h2>Chart of the week<\/h2>\n<p>China was the first country affected by the Covid-19 epidemic and the first to implement lockdown. As February\u2019s PMI data showed, the economic impact has been huge. Following an extended Chinese New Year break, restrictions have been gradually eased since mid-February, with lockdown being lifted on 25 March in the Hubei Province and on 8 April in Wuhan. This has led to a gradual recovery that is now visible in the PMI readings for the month of March.<\/p>\n<p>To stimulate the economy, the Chinese government is relaxing lending conditions. Lending surged in March to reach 2.85 trillion yuan, the highest monthly figure ever seen, except sometimes in January when lending is traditionally very high due to Chinese New Year.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13904 alignnone\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre.png\" alt=\"\" width=\"1316\" height=\"758\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre.png 1316w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre-300x173.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre-1024x590.png 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre-768x442.png 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2020\/04\/Sans-titre-600x346.png 600w\" sizes=\"auto, (max-width: 1316px) 100vw, 1316px\" \/><\/p>\n<h2>Our analysis<\/h2>\n<p>China\u2019s central bank has taken several steps to increase bank lending, cutting reserve rate requirements and certain lending rates. Against a backdrop combining global economic slowdown and high demand for certain Chinese products such as masks and medical products, the central bank can be expected to pursue its current policy in the foreseeable future.<\/p>\n<p>&nbsp;<\/p>\n<p>See also:\u00a0<a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-has-the-economy-bottomed-out\/\">China: has the economy bottomed-out?<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><i>The opinion expressed above is dated <\/i><i>\u00a010 April <\/i><i>2020<\/i><i>, and liable to change.<\/i><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 &#8211; Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES &#8211; 75008 PARIS, FRANCE<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chart of the week China was the first country affected by the Covid-19 epidemic and the first to implement lockdown.&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":13878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2005,1980,2006,1929],"class_list":["post-13902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-central-bank","tag-china-en","tag-economy","tag-pmi-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CHINA : FIRST SIGNS OF STIMULUS &#8211; 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