March 22, 2020 / 3:22 AM / 7 days ago

China central bank official expects significant improvement in second-quarter economic indicators

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee

BEIJING (Reuters) - A Chinese central bank official said on Sunday that recent policy measures are helping improve the Chinese economy and that he expects significant improvement in economic indicators in the second quarter.

Chen Yulu, a deputy governor at the People’s Bank of China (PBOC), also told a news conference that the country’s financial system remains stable, and that there are ample policy tools.

China’s economy is widely expected to contract in the first quarter due to measures to curb the spread of coronavirus.

Reporting by Kevin Yao; Writing by Tony Munroe; Editing by Sam Holmes

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