And he said Chinese Central BankHe established a program to facilitate the swap of securities, fund and insurance companies, in order to promote the “healthy and stable development of the capital market.”
This new program comes within a series of broad stimulus measures announced by the People’s Bank of China last month, as it seeks Beijing To support the stock market and the economy, which faces major challenges that may threaten achieving the growth target of about 5 percent this year.
The Chinese news agency, Xinhua, quoted the central bank as saying that the program will allow eligible securities, fund and insurance companies to use their assets, including bonds and traded funds, in… stock market Its holdings in CSI 300 components serve as collateral against highly liquid assets such as Treasuries and central bank bonds.
The scope of the program could be expanded depending on the development of the situation, according to the central bank.
Starting today, Thursday, applications will be accepted from eligible securities, funds and insurance companies.
