mo4ch:>Virus credit crunch hits millions of Chinese firms

Virus credit crunch hits millions of Chinese firms24 February 2020 Related TopicsCoronavirus outbreak Image copyrightGetty ImagesImage captionA man wears a protective face mask as he walks in the normally bustling Wangfujing shopping street in central BeijingMounting debts have hit Chinese companies struggling to pay workers and suppliers amid the coronavirus outbreak.President Xi Xinping said on Sunday that China faces a "big test" to combat the virus.The government has asked banks to offer more credit for an economy stunned as the virus spreads rapidly.But a survey of small and medium Chinese firms found millions at the edge of survival.The Chinese Association of Small and Medium Enterprises said around 60% could cover regular payments for only one to two months before running out of cash. Only 10% said they could hold out six months or longer.At the same time, the industry group said that "nearly 60% of the enterprises (surveyed) have resumed work."S Korea declares…