China’s Central Bank Pledges Support for Businesses Amid Covid

(Bloomberg) — China’s central bank rolled out a raft of measures to support individuals and small businesses as the economy faces headwinds from Covid-led lockdowns.

The People’s Bank of China (PBOC) urged banks to expand lending to people with “flexible employment” such as taxi drivers, online shop-owners and truck drivers, and provide longer-term and cheaper loans to small businesses hit by the outbreak, it said Monday in a joint document with the foreign exchange regulator.