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China to step up financial support to COVID-hit catering, tourism sectors By Reuters


© Reuters. FILE PHOTO: Customers dine at a restaurant in a shopping area in Beijing, China July 25, 2022. REUTERS/Tingshu Wang

BEIJING (Reuters) – China will step up support to small and private businesses in the catering and tourism sectors that were hit hard by the COVID-19 epidemic, the country’s banking and insurance regulator said in a statement on Tuesday.

The recovery of consumption will be a priority, the regulator said. The purchase of big-ticket items such as new energy vehicles and green home appliances will also be encouraged, it said in the statement.


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