Chinese central authority steps up efforts to increase lending to virus-hit businesses

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China is increasing financial and management support for local governments in their fight against the coronavirus outbreak, including efforts by local authorities to relieve pressure on cash-strapped businesses.

The Financial Stability and Development Committee (FSDC), which coordinates the activities of financial regulators and the central bank, has opened eight new provincial-level offices in a move to better coordinate virus response efforts on behalf of the State Council, the country's cabinet.

One of the main jobs of the new FSDC branches, which will be located in the provincial-level authorities of Shanghai, Jiangsu . . .

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