China central bank conducts first operations under swap facility to bolster stock market

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China central bank conducts first operations under swap facility to bolster stock market

SHANGHAI -China's central bank said it conducted its first operations under a swap facility designed to bolster the stock market, exchanging assets worth 50 billion yuan with brokerages, fund companies and insurers on Monday.

The PBOC officially kicked off the swap facility on Friday, part of efforts to inject liquidity into the stock market and boost investor confidence.

 

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