China offers incentives to firms helping battle virus outbreak

The steps include reduction in value-added taxes and nudging banks to offer loans carrying interest rates of less than 1.6% for key enterprises that produce, sell or transport essential medical products and daily necessities. - China Daily/Reuters

BEIJING (Bloomberg): China is stepping up efforts to contain the spread of the new coronavirus with a series of relief measures for companies directly engaged in the fight against the disease that has killed more than 500 people.

The steps include reduction in value-added taxes and nudging banks to offer loans carrying interest rates of less than 1.6% for key enterprises that produce, sell or transport essential medical products and daily necessities, China’s State Council said on its website last night.