China says economy faces risks from Coronavirus

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The People’s Bank of China, (PBOC) says the country’s economic growth faces challenges from the global coronavirus pandemic, despite signs of improvement amid business re-openings.

The country’s central bank, (PBOC) said in a statement on Sunday said it would continue to guide lending rates lower by exploiting the full potential of reforms.

It  added that it would strengthen financial support for small and medium sized enterprises including private firms.

The PBOC made the statement after its monetary policy committee held a seasonal meeting on June 24, 2020.

Peace PIAK

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