![Pedestrians wearing protective masks walk past the People's Bank of China (PBOC) building in Beijing, China, on Tuesday, March 17, 2020. China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy as the virus spreads around the world. Photographer: Qilai Shen/Bloomberg](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/LXSKDGIMPFXUU6XTF7WPMFKUII.jpg?smart=true&auth=f3c710a7db55d617cec7775350494ab4759a425f23a35abcf3e276310563fe9d&width=400&height=225)
For China, IHS Markit predicts growth of just 2 per cent in 2020, followed by a stronger-than-average rebound in 2021. Bloomberg
For China, IHS Markit predicts growth of just 2 per cent in 2020, followed by a stronger-than-average rebound in 2021. Bloomberg
China’s central bank cuts interest rate on loans to banks by biggest amount since 2015
The first PBOC policy rate cut since February is in line with the pledge to increase support to the economy