China Makes Stock Buyback Lending Program a Long-Term Policy, Cuts Program Relending Rate to 1%

China’s central bank and two financial regulators are making a stock-buyback lending program a long-term policy and lowering its relending rate, a move aimed at supporting the country’s capital markets. The People’s Bank of China (PBOC), National Financial Regulatory Administration (NFRA) and China Securities Regulatory Commission (CSRC) are shifting the program for stock repurchases and share purchases from a temporary arrangement to a long-term institutional policy. Its relending rate will drop to 1% from 1.25%. Financial institutions are to set loan rates according to market conditions, add a reasonable margin above the relending rate and increase lending under the program.

Source: TokenPost