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

Reuters | Beijing | Updated: 03-02-2020 07:04 IST | Created: 03-02-2020 07:01 IST
China to subsidize interest payments for some firms hit by virus outbreak - state media
Representative Image Image Credit: Pixabay

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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