People's Bank of China and Others Hold Symposium to Support Capital Markets

The People's Bank of China, the Financial Regulatory Administration, and the China Securities Regulatory Commission held a symposium on two tools to support capital markets. They proposed to continue strengthening policy support, optimizing policy elements and implementation details, and encouraging financial institutions to effectively utilize policy tools to maintain market stability and enhance market resilience and confidence. The meeting decided to timely carry out convenient operations for swaps among securities, funds, and insurance companies, increase the number of participating institutions, reduce swap rates, and optimize pledge and operational models. The stock repurchase and increased re-lending policy will shift from a phased arrangement to a long-term institutional arrangement, with the re-lending interest rate reduced from 1.25% to 1%. Financial institutions will reasonably add points based on the re-lending interest rate and increase loan issuance.

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