February 15, 2020 / 2:47 PM / a month ago

China issues measures to support manufacturers, businesses hit by coronavirus

A textile worker is seen on a fabric production line at a factory in Qingdao, Shandong province, China February 14, 2020. China Daily via REUTERS

BEIJING (Reuters) - China’s banking and insurance regulator has announced new measures to support companies, manufacturers, and small and medium businesses that have been hard hit by the coronavirus epidemic.

The China Banking and Insurance Regulatory Commission (CBIRC)said in a notice on Saturday that firms should strengthen loans to the manufacturing sector. It also called on banks to provide optimal rates and better financial services for manufacturers of protective gear.

Reporting by Huizhong Wu and Zhang Min in Beijing; Editing by Frances Kerry

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