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China’s banks must innovate to help small businesses weather ‘complex and severe’ economic environment

People’s Bank of China governor Yi Gang has urged banks to support smaller companies through innovations in financial services and products to help nurse them through the “complex and severe” economic situation facing the country.Yi told a seminar in the eastern city of Hefei on Friday that banks should adapt financial services and products, increase investment in fintech research and technology and integrate on-site and online financial services, according to a statement posted on the central…

Read the original article at South China Morning Post

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