China's Central Bank Launches Support Loans - to Help Local Companies Pay Debts

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China began offering low-cost financing to help companies linked to local governments to take out late bills, in a new attempt to ease the pressure on the company's cash register and unlock investments in the midst of slowing down the world's second largest economy, told Bloomberg on Tuesday. Read also: China and the US hit price cuts on $60 billion in Trump products asked Xi if China would like to buy US weapons, says Ambassador Second people f…

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The economic slowdown combined with the continued weakness of domestic demand led the Chinese authorities to announce a recovery plan including subsidized loans to businesses and households. The People's Bank of China also lowered its guaranteed borrowing rates.

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China's central bank has launched a new program of subsidized loans to publicly owned local companies in the country, so that more people can pay their bills, Bloomberg reports, citing sources.

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China's central bank has launched a new program of subsidized loans to state-owned local companies in the country, so that more can pay their bills, Bloomberg reports, citing sources. The central bank is providing cheap capital to commercial banks, so that they can in turn support local financial players in the country by providing more credit to financially stressed companies. Commercial banks can already apply to the central bank to access the…