BEIJING -- Small and medium-size Chinese companies, still struggling financially amid a sluggish economic recovery, are staring at the year-end expiration of deferrals on the principal and interest of their bank loans.
The Chinese government in May adopted an economic stimulus package that included the time-limited support measures for these companies.
A district representative in charge of promoting the service industry in suburban Beijing is anxious about the soon-to-expire deferral program. "Smaller companies will not be able to get by if it ends at the end of the year [as scheduled]," he said.
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