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China’s Central Bank Takes Action as Record Covid-19 Outbreak Hits Economy

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wsj.com

SINGAPORE—China’s central bank moved to backstop growth by boosting lending to households and businesses, as the world’s second-largest economy struggles with its biggest Covid-19 outbreak since the pandemic began.Economists said the shift in policy will likely have limited impact, as repeated lockdowns, a continuing real estate crunch and fading demand for Chinese exports mean appetite for loans is weak.

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