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