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China central bank says economy faces risks from global pandemic, efforts against domestic resurgence

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing

SHANGHAI (Reuters) - China's central bank said on Sunday that the country's economic growth faces challenges from the global coronavirus pandemic, despite signs of improvement amid business re-openings.

The People's Bank of China (PBOC) said in a statement it would continue to guide lending rates lower by exploiting the full potential of reforms, and would strengthen financial support to small- and medium-sized enterprises and private firms.

The PBOC made the statement after its monetary policy committee held a seasonal meeting on June 24, it said.


(Reporting by Samuel Shen and Emily Chow; Editing by Alex Richardson)