China injects $80bn in liquidity for virus-hit small businesses

Central bank will lower required reserves for lenders that meet targets

A small shop in Wuhan, China. The country's small businesses and individual proprietorships have been especially hit hard by the coronavirus pandemic. © Reuters

ISSAKU HARADA, Nikkei staff writer

March 14, 2020 01:26 JST

BEIJING -- China's central bank said Friday it will spur lenders to provide desperately needed cash to small businesses battered by the coronavirus outbreak in a move that will unleash 550 billion yuan ($78.5 billion).