China extends $183 bln in loans for small firms
(WorldNews China)

China`s financial institutions have extended the repayment of principal and interest on loans of 1.3 trillion yuan (US$183 billion) for small businesses to between January 25 and May 15, said the China Banking and Insurance Regulatory Commission (CBIRC). Banks have also provided re-lending funds of 1.9 trillion yuan to micro-, small- and medium-sized companies hurt by the Covid-19 outbreak, according to a statement issued by the CBIRC. In a bid to help small businesses, China has adopted a slew of measures to reduce financing costs, such as letting them delay the repayment of principal and interest as well as encouraging lenders to increase credit lines. In the next...