News Snapshot:
HONG KONG (BLOOMBERG) - China has ramped up financial support for small businesses and pledged better use of local government bonds as the economy showed further signs of a slowdown because of tight property controls and fresh coronavirus outbreaks. The People's Bank of China will provide 300 billion yuan (S$62.4 billion) of low-cost funding to banks so they can lend to small and medium-sized companies, according to a statement released after a meeting on Wednesday (Sept 1) of the State Council, China's equivalent of a government Cabinet. Other measures include interest subsidies to firms hit hard by the pandemic and...
