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China Central Bank Seeks to Calm Markets with Support Pledge

  • PBOC says it will step up policy support for economy
  • More funds pledged for relending programs for coal, aviation
Bloomberg business news
WATCH: The PBOC pledged to increase support for the economy amid a worsening growth outlook and rising Covid lockdowns. James Mayger reports.Source: Bloomberg
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China’s central bank pledged to support the economy through targeted financing for small businesses and a quick resolution of the ongoing crackdown on technology firms in Beijing’s latest bid to reassure investors nervous about growth and Covid lockdowns.