China cenbank urges stepped-up efforts to support contact-intensive service sector -Breaking

China cenbank urges stepped-up efforts to support contact-intensive service sector© Reuters. FILE PHOTO : Face-masking people walk by the People’s Bank of China headquarters (PBOC) on April 4, 2020. REUTERS/Tingshu Wang

BEIJING (Reuters), – China’s central bank urged financial institutions worldwide to support the small, contact-intensive services sector as well as those impacted by COVID-19. It made this request in a statement issued Wednesday.

People’s Bank of China (PBOC), also called for flexibility in mortgage payments plans for homeowners affected by COVID epidemics. They pledged to maintain stability and order in the financing of property sectors.

It stated that the financial system should fully grasp the importance and urgency of financial services in epidemic prevention and control as well as for economic and socio-economic development.

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