China to step up support for cultural and tourism recovery – central bank

BEIJING – China’s central bank will guide domestic financial institutions to provide credit services to the cultural and tourism sectors which have been hit hard by the COVID-19 pandemic, it said in a notice on Monday.

Policy tools such as re-discount and re-lending will be used to reduce the financing costs for the cultural and tourism industries, the central bank said in the notice.

(Reporting by Beijing newsroom, Writing by Meg Shen; Editing by Toby Chopra)