BEIJING: While the Covid-19 epidemic is taking a toll on the real economy, China’s financial authority has managed to bail small businesses out and help them fare better with targeted policy instruments.
The People’s Bank of China (PBOC), China’s central bank, devised two credit instruments in early June: the loan extension support tool which aims to encourage banks to defer businesses’ inclusive loan repayments and the credit loan support tool which is designed to step up loan issuance.
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