China’s central bank pumps $173bn into economy to heal damage from coronavirus outbreak

The People’s Bank of China (PBOC) will allocate a hefty sum to stabilize the currency market and ensure there is enough liquidity in the country’s financial institutions, which remain thwarted by the sweeping coronavirus epidemic.

PBOC has announced that it will deploy as many as 1.2 trillion yuan ($173 billion) “in order to maintain reasonable...