China: Central bank raises limit on small payments

Beijing – China’s central bank said on Friday it would temporarily raise the upper limit on small bank batch payments to 500 million yuan ($72.42 million) from Friday until Jan. 30, to ease fund transfers amid a coronavirus outbreak.

The outbreak, which originated in the central city of Wuhan late last year, has killed 25 people and infected more than 800.

The People’s Bank of China did not specify its previous upper limit, but said the adjustment is for transferring of bank deposits or extending credit to clients. (Reuters)