PBOC Governor provides directions for stock buybacks

Chinese state media with comments from Pan Gongsheng, People’s Bank of China governor

  • PBOC
    provides specific directions for stock buybacks and reloans to
    increase holdings, and it is the bottom line that credit funds cannot
    enter stock market in violation of regulations
  • Central
    bank’s provision of stock buyback and additional purchase re-loans
    has specific directional aims, and a fundamental bottom line is that
    loan funds must not unlawfully enter the stock market
  • The two tools to support the stable development of the capital
    market are entirely based on market-oriented principles, and swap
    facility is not direct financial support from central bank

This article was written by Eamonn Sheridan at www.forexlive.com. Source