China cuts relending rate to 1% to calm stock market
China is taking fresh steps to calm its stock market, including cutting the rate on its relending facility for share buybacks and stake increases to 1% from 1.25%.
The central bank is also making it easier and cheaper for investment firms and insurers to get involved.
The goal: Get more players into the market and make investing a bit less expensive.
China regulator cites 100bn yuan swaps
China's top securities regulator said a third round of swap operations will begin in coming days, with over 100 billion yuan in requests from 31 securities and fund firms.
On top of that, China has already seen about 440 billion yuan of loans supporting share buybacks and stake increases contracted, with more than 280 billion yuan disbursed to more major index constituents and leading technology companies, hoping these moves will boost confidence and keep the market stable.