(Yicai Global) Feb.17 -- China's premised policy of preserving stable currency remains unchanged under the onslaught of Corvid-19, Fan Yifei, vice governor of the country's central bank the People's Bank of China, said at a three-agency press briefing convened in Beijing on Feb. 15 to address the government's response to the economic effects of the pneumonia. Fan firmly believes no great inflation will set in, he added.   

China's stock markets have withstood the impact of the novel coronavirus and have basically returned to normal operation, Yan Qingming, vice chairman of the China Securities Regulatory Commission, announced at the same press conference.  

The country will ensure that micro and small companies' general credit growth will not be influenced by the disease, Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, said at the briefing, adding it will also provide credit guarantees and availability for resumption of work and production in significant sectors, and take measures to spur the construction of important projects to stabilize Chinese residents' consumption.

China's consumer price index rose 5.4 percent last month from the same time last year in a more than eight-year high, mostly driven by food prices that soared over one-fifth, and the producer price index pivoted to a 0.1 percent rise from December's 0.5 percent drop, the country's statistics agency announced on Feb. 10 

The PBOC penalized China Minsheng Bank, China Everbright Bank and Huatai Securities for violations of anti-money laundering rules, fining the three more than CNY53 million (USD7.6 million) in total on Feb. 14.

The CSRC has revised its policies for listed companies' refinancing, and this retooling entails such details as the discount range of issues prices, the lockup period for new shares, and the number of items allowed in non-public offerings.

Editors: Tang Shihua, Ben Armour