China central bank says economy faces risks from global pandemic, efforts against domestic resurgence

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.

FILE PHOTO: Headquarters of the People's Bank of China , the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

SHANGHAI - 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 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.

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