China’s poor seek more debt as virus makes them jobless
International

China’s poor seek more debt as virus makes them jobless

Agency News

Demand for consumer loans is picking up in China, especially among the less affluent, highlighting a group that some say could use more support during the coronavirus-induced economic downturn.

The disease, officially called Covid-19, emerged late last year in the Chinese city of Wuhan. The virus has since spread rapidly around the world, killing more than 183,000 people, including over 4,600 in China.

While the coronavirus’ outbreak has stalled within the country, China is still trying to recover from the economic shock of weeks-long shutdowns, both domestically and now from export destinations.

Official and third-party data show that China’s poorest households are the hardest hit.

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