Chinese companies tap 'virus bonds' but put cash to other uses
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SHANGHAI/HONG KONG (Reuters) - Chinese companies are rushing to access cheap funds via "virus bonds" as they capitalise on Beijing's efforts to channel money into virus-hit areas of the economy, but prospectuses show most of the funds so raised will be used for other purposes.A Reuters analysis reveals only a third of the roughly 14 billion yuan (£1.55 billion) being raised under a new fast-track regulatory process for "virus prevention and control bonds" will actually be used for the cause.A..