To curb the spread of Corona, China is subject to banknotes for stone and sterilization

The Central Bank of China has announced a decision to "clean" banknotes in circulation by placing them in a "quarantine" with the aim of curbing the spread of the Corona virus, stressing that it will continue to support companies suffering from the epidemic.

The banks use ultraviolet radiation or very high temperatures to sterilize banknotes, before they are isolated for a period of 7 to 14 days, said Vice Governor of the Chinese Central Bank, Van Yifei.

In a press conference, he indicated the possibility of returning the banknotes to circulation after the expiration of the "quarantine" period, which depends on the severity of the epidemic in the region concerned.

"We must maintain the safety and health of the users of cash," he said, referring to the suspension of financial transfers between Chinese provinces.

The central bank's actions come in parallel with the increasing reluctance of the Chinese to use the currency for fear of catching the infection, despite the fact that most consumers use their smartphones to pay their dues and the price of their daily purchases for years.

Moreover, before the Lunar New Year holiday, the Chinese central bank issued an "emergency issue" of banknotes of 4 billion yuan (53 million euros) in Hubei Province (center), the epicenter of the epidemic.

In the face of the new respiratory epidemic, which has caused about 1,500 deaths and injured more than 66,000 people in China, public space sterilization has increased, while residents are encouraged to limit direct contact with others.

According to WHO, the Covid-19 epidemic is transmitted mainly through the respiratory tract (through saliva, for example) and also through physical contact and by touching areas contaminated with the epidemic.

While analysts expect monetary facilities to revive an economy paralyzed by the epidemic, Yivi only commented that the central bank would follow a "wise" monetary policy.

In this context, Yifi says that the rate of doubtful debts is still "relatively low" in the banks' budget.

The China Banking Regulatory Commission called on commercial banks to increase the rate of lending to companies while maintaining "reasonable interest rates," according to Vice-President Liang Tao at the press conference.