Economy faces risks from global pandemic, efforts against domestic resurgence: China central bank

People's Bank of China (PBOC) said in a statement it would continue to guide lending rates lower by exploiting the full potential of reforms

  
The Chinese national flag flies at half-mast at the headquarters of the People's Bank of China, the central bank (PBOC), as China holds a national mourning for those who died of the coronavirus disease (COVID-19), on the Qingming tomb-sweeping festival in Beijing, China April 4, 2020.

The Chinese national flag flies at half-mast at the headquarters of the People's Bank of China, the central bank (PBOC), as China holds a national mourning for those who died of the coronavirus disease (COVID-19), on the Qingming tomb-sweeping festival in Beijing, China April 4, 2020.

REUTERS/Carlos Garcia Rawlins

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 (PBOC) 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.

(Reporting by Samuel Shen and Emily Chow; Editing by Alex Richardson) ((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net))

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