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

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

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.

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