SHANGHAI (Reuters) – China’s central bank said on Sunday that the country’s economic growth faces challenges from the global coronavirus pandemic, despite signs of improvement amid business re-openings.
The People’s Bank of China (PBOC) said in a statement it would continue to guide lending rates lower by exploiting the full potential of reforms, and would strengthen financial support to small- and medium-sized enterprises and private firms.
The PBOC made the statement after its monetary policy committee held a seasonal meeting on June 24, it said.
(Reporting by Samuel Shen and Emily Chow; Editing by Alex Richardson)
