According to China’s Ministry of Industry and Information Technology, only 30 per cent of small and medium-sized businesses had resumed work by mid-February, compared to over 90 per cent of state-owned enterprises. Photo: AP

Coronavirus: China offers under pressure small, medium-sized businesses lifeline by delaying loan payments

  • Banks have been told to grant extensions until the end of June for eligible businesses with repayments or interest due between January 25 and June 30
  • China’s central bank has already made 500 billion yuan (US$51.5 billion) of additional funds available for commercial lenders to lend to firms
Topic |   Coronavirus pandemic
According to China’s Ministry of Industry and Information Technology, only 30 per cent of small and medium-sized businesses had resumed work by mid-February, compared to over 90 per cent of state-owned enterprises. Photo: AP
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