Former World Bank chief economist talks about China’s 1 trillion COVID-19 bonds

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This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.

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  • According to the government work report submitted to the national legislature for deliberation on Friday, China plans to issue one trillion yuan (about 141 billion U.S. dollars) of government bonds for COVID-19 control. On this, CGTN Host Tian Wei interviewed Professor Justin Yifu Lin, former World Bank chief economist and director of the Center for New Structural Economics at Peking University. Professor Lin said that when it comes to the government and the market, it’s not a matter of “either or,” rather the two need to function together. The pandemic has taken a hit on market demand, and governments around the world, not just China, need to do more on insufficient demand.

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    In This Story: China

    China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes the former nations of Tibet and Hong Kong. The capital is Beijing.

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    Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

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    The main symptoms of coronavirus are:

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