China Cuts Stock Buyback Relending Rate to 1% to Support Market
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China’s central bank cut the interest rate on its stock buyback relending facility to 1% on Wednesday, after banks applied for more than 200 billion yuan ($30 billion) in quotas this week.
The move is part of a broader package of measures announced by Chinese regulators to shore up the stock market, boost liquidity and restore investor confidence amid a recent market downturn.
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