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PBOC, NAFR, CSRC Advise Better Implementation of SFISF, 2 New Tools
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The People's Bank of China (PBOC), the National Administration of Financial Regulation (NAFR), and the China Securities Regulatory Commission (CSRC) announced that they jointly held a symposium with major financial institutions on Wednesday morning (16th) to drive financial institutions to accelerate the implementation of recent incremental financial policies. The meeting underscored that financial institutions must mindfully implement the spirit of the meeting of the Political Bureau of the CPC Central Committee, take swift action, make full use of all incremental financial policies, and ensure that each policy is implemented effectively. The financial institutions must beef up credit support for the real economy, maintain a reasonable growth in the total amount of monetary credit, and amplify support for financing for small and micro enterprises. The meeting advised the financial institutions to enforce the Securities, Funds and Insurance Companies Swap Facility (SFISF) and the two new tools, stock repurchase and overweight refinancing, to underpin the stable development of the capital market. It is essential to strengthen organizational leadership, establish a special working mechanism, emphasize coordination between units and business collaboration, create synergies, maximize the effect of policies, continue to boost market confidence, improve social expectations, and effectively promote sustained economic recovery and improvement, as well as high-quality financial development. AAStocks Financial News |
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