Jan 23, 12:29 AM

PBOC Extends Lending Facility and Introduces 20 Measures for Financial Openness in Greater Bay Area

The People's Bank of China (PBOC) has announced an extended lending facility aimed at supporting share buybacks and shareholding increases for listed companies. This initiative is part of a broader strategy to stabilize the stock market and promote high-quality development among companies, according to experts. Additionally, a joint announcement from the PBOC, the Ministry of Commerce, and the National Administration of Financial Regulation revealed plans to enhance financial openness in pilot free trade zones and the Greater Bay Area (GBA). The new policy will allow Mainland investors to purchase qualified investment products. Furthermore, a guideline outlining 20 measures to expand financial opening in free trade zones and ports was disclosed, ensuring that foreign financial institutions receive equal treatment to domestic firms. The measures aim to attract long-term capital into the market, with experts predicting a boost in market confidence and an improved capital market ecosystem. The PBOC has indicated that it will increase support measures for the market when appropriate, with liquidity tools available to fund share purchases at the right time.

#PBOC #Ministry of Commerce #Greater Bay Area #GBA #Mainland

Written with ChatGPT (GPT-4o mini).