CHINA ANNOUNCED 1ST 500 BILLION SWAP FACILITY FOR CAPITAL MARKET
@SPOT_ON:
In addition to support for the economy, the government is also focusing on capital markets. This week, a CNY 500bn swap facility was announced, giving brokers, funds, and insurance companies liquidity to buy stocks. With two more rounds of CNY 500bn mentioned as possible. A CNY 300bn special refinancing facility, with a 2.25% lending rate, will be introduced for share buybacks, and a stock market stabilization fund is also under consideration. $Alibaba(09988)$ $PDD Holdings Inc(PDD)$ $XPeng Inc.(XPEV)$ $BIDU-SW(09888)$ $TENCENT(00700