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Finance

China diverts infrastructure funds for $30bn injection into weak banks

Provincial governments have little leeway to help lenders hit by COVID crisis

Cranes stand against a backdrop of the Lujiazui financial district in Shanghai.   © Reuters

BEIJING -- China looks to help smaller lenders struggling with bad loans by injecting 200 billion yuan ($29.5 billion) in public funds, letting regional governments use capital originally raised for infrastructure.

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