February 3, 2020 / 1:42 AM / 15 days ago

China to subsidize interest payments for some firms hit by virus outbreak - state media

BEIJING (Reuters) - China’s finance ministry will give subsidies on interest payments for some firms hit by a spreading coronavirus outbreak, state-run newspaper Guangming Daily reported on Monday.

The subsidies will be based on 50% of the interest rate on loans make by the central bank to support firms hit by the epidemic, for a period no longer than a year, the newspaper said.

Reporting by Kevin Yao; Editing by Kim Coghill

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