China’s Hebei province sets up $ 7 billion financing vehicle to shore up economy

File Photo: Employees work on a production line 

manufacturing protective suits at a clothing factory, as the country is hit by an outbreak of the novel coronavirus, in Shijiazhuang, Hebei province, China 17 February 

BEIJING (Reuters): The northern Chinese province of Hebei has set up a special financing project worth 50 billion yuan ($ 7.12 billion) with China Development Bank to help get the regional economy up and running again after coronavirus disruptions. The project will help businesses to resume production, stabilise investment and guarantee major infrastructure projects in the first half of 2020, the Hebei Development and Reform Commission said on its website on Thursday.