China Central Bank Conducts First 50 Billion Yuan Swap Operation to Bolster Stock Market

Oct 22, 2024, 05:53 AM

China's central bank has conducted its first 50 billion yuan swap operation to bolster the stock market. The People's Bank of China (PBOC) executed this operation by swapping out government bonds. This move was facilitated through the China International Capital Corporation, which conducted the first stock purchase via the securities, fund, and insurance company swap facility on Tuesday - statement. The initiative aims to provide liquidity and stabilize the financial markets.