June 9, 2020 / 12:23 PM / a month ago

China will set up special mechanism for transfer payments: cabinet

BEIJING (Reuters) - China will set up a special mechanism for transfer payments of fiscal funds to help small and medium-sized firms that have been hit by the coronavirus epidemic, state television reported on Tuesday, citing a cabinet meeting chaired by Premier Li Keqiang.

China will also help export companies explore domestic markets, it said.

Reporting by Colin Qian and Tony Munroe; Editing by Andrew Heavens

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