PBOC Launches Re-Lending Facility on October 20 to Support Stock Buybacks by 20 Companies

Oct 21, 2024, 12:48 AM

The People's Bank of China (PBOC) has officially launched a specialized re-lending facility aimed at supporting listed companies and their major shareholders in stock repurchases and shareholding increases. This initiative, announced on October 20, is part of a broader stimulus package designed to stabilize the capital market. The facility aims to guide banks in providing loans to qualified listed companies. Following the announcement, more than 20 listed Chinese companies have signed agreements with financial institutions to secure loans for these purposes. The move is intended to boost investor confidence and ensure the stable operation of China's capital markets.