March 12, 2020 / 10:45 AM / 16 days ago

China's Hubei province unveils measures to support virus-hit economy

BEIJING, March 12 (Reuters) - China’s Hubei province, the centre of a coronavirus pandemic, has unveiled a raft of measures to support local economic growth, the provincial government said on Thursday.

Hubei will actively expand its special bond issuance this year and aim for issuance of 30 billion yuan ($4.29 billion) in corporate bonds, the government said in a statement.

Financial institutions will be forbidden to call in loans without good reason, in order to protect firms as they seek to revive businesses hit by the virus. ($1 = 6.9958 Chinese yuan renminbi) (Reporting by Stella Qiu, Judy Hua and Kevin Yao; Editing by Kevin Liffey)

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