March 12, 2020 / 10:53 AM / 3 months ago

China's Hubei province unveils measures to support virus-hit economy

BEIJING (Reuters) - China’s Hubei province, the center of a coronavirus pandemic, has unveiled a raft of measures to support local economic growth, the provincial government said on Thursday.

Hubei will actively expand its special bond issuance this year and aim for issuance of 30 billion yuan ($4.29 billion) in corporate bonds, the government said in a statement.

Financial institutions will be forbidden to call in loans without good reason, in order to protect firms as they seek to revive businesses hit by the virus.

Reporting by Stella Qiu, Judy Hua and Kevin Yao; Editing by Kevin Liffey

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