The People’s Bank of China (PBOC) kicked off a specialised re-lending facility to help companies buy back shares and a swap facility that offers institutional investors liquidity to purchase stocks. Both programs were unveiled at the central bank’s blockbuster briefing in late September.
Chinese stocks advanced on Friday following a slew of positive headlines from the central bank, which reinforced its determination to support the market.
The CSI 300 Index gained as much as 3.7%, rebounding from a three-day loss, with chip shares the top performers. A gauge of Chinese stocks listed in Hong Kong also rose more than 3%.
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