China central bank kicks off 500 billion yuan swap facility to aid stock market
- Posted on October 10, 2024
- By Business News Today
- 3 Views
China central bank kicks off 500 billion yuan swap facility to aid stock market
China's central bank is initiating a 500 billion yuan funding scheme for financial institutions to bolster the capital market. Eligible firms, including securities, fund companies, and insurers, can apply to use assets as collateral for highly liquid assets. This move follows recent stock market declines.
