China drafts banks, brokerages and funds into war on virus
Share:
SHANGHAI/HONG KONG (Reuters) - China's President Xi Jinping is enlisting the state-dominated financial sector in a war against a virus outbreak that has killed more than 500, mobilising lenders, brokerages and fund managers to pump resources into stricken parts of the economy.Answering Beijing's call, banks are rushing to offer virus-fighting loans at ultra-low rates, investment banks are helping companies issue anti-virus bonds faster, and managers of mutual funds are refraining from selling..