China to step up support for cultural and tourism recovery – central bank

2022.07.25 10:58

People walk along Nanjing Pedestrian Road, a main shopping area, during the Labour Day holiday, following the outbreak of the coronavirus disease (COVID-19), in Shanghai, China May 5, 2021. REUTERS/Aly Song

BEIJING (Reuters) – China’s central bank will guide domestic financial institutions to provide credit services to the cultural and tourism sectors which have been hit hard by the COVID-19 pandemic, it said in a notice on Monday.

Policy tools such as re-discount and re-lending will be used to reduce the financing costs for the cultural and tourism industries, the central bank said in the notice.

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