The People’s Bank of China (PBOC) also known as the Chinese central bank will permit funds of which brokers can utilize to purchase stocks as part of numerous measures to stimulate the economy and encourage investor sentiment, in addition to a plan to create particular refinancing for listed companies.
The PBOC will establish a swap facility where securities, fund, and insurance companies can make use of the central bank’s liquidity for the above-stated purpose, said Pan Gongsheng, Governor of the PBOC.
Earlier, the onshore CSI 300 Index has seen a 1.3% ascent.
