CHINA ANNOUNCED 1ST 500 BILLION SWAP FACILITY FOR CAPITAL MARKET
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.
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The new payment option allows users to complete purchases with WeChat Pay, and subsequent updates will enable users to access transaction records and bills directly within the WeChat app, WeChat Pay said.
Additionally, Taobao and Tmall are set to officially integrate JD Logistics, with the service expected to be available by mid-October
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Woohoo. Nice
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