China Central Bank Says Economy Faces Risks from Global Pandemic, Efforts Against Domestic Resurgence

China Central Bank Says Economy Faces Risks from Global Pandemic, Efforts Against Domestic Resurgence

FILE PHOTO: A woman wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo

The PBOC said it would continue to guide lending rates lower by exploiting the full potential of reforms and would strengthen financial support to small- and medium-sized enterprises and private firms.

  • Reuters Shanghai
  • Last Updated: June 28, 2020, 6:00 PM IST

China’s central bank said on Sunday that the country’s economic growth faces challenges from the global coronavirus pandemic, despite signs of improvement amid business re-openings.

The People’s Bank of China (PBOC) said in a statement it would continue to guide lending rates lower by exploiting the full potential of reforms, and would strengthen financial support to small- and medium-sized enterprises and private firms.

The PBOC made the statement after its monetary policy committee held a seasonal meeting on June 24, it said.



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