February 15, 2020 / 12:34 PM / 2 months ago

China issues measures to support manufacturers, businesses hit by coronavirus

A worker puts on his protective suit before entering a laboratory at a centre for disease control and prevention, as the country is hit by an outbreak of the novel coronavirus, in Taiyuan, Shanxi province, China February 14, 2020. Picture taken February 14, 2020. cnsphoto 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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