Briefly

New loans surge in manufacturing sector

China's manufacturing sector saw a surge in new loans in the first five months of this year as the country strengthened financial support amid the COVID-19 epidemic, official data showed. From January to May, a total of 1.4 trillion yuan ($197 billion) worth of new loans have flowed to Chinese manufacturers, up 10.1 percent on a yearly basis, which is the highest growth since 2014, according to the China Banking and Insurance Regulatory Commission.

Taobao enters online education market

The earliest e-commerce site of Alibaba Group said on Monday it will allocate resources to help over 1,000 education service companies each secure 100,000 students over the course of three years. A suite of tools, including Alibaba's group-buying arm Juhuasuan, livestreaming unit Taobao Live, and the search function in Alibaba's mini programs, are accessible to education agencies to tap into the 846 million active users on the site, the company said.

Xinhua - China Daily