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Beijing launches US$15b asset swap to support China’s markets after sell-off

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Summary

China’s central bank announced on Monday it would start a fresh round of a swap facility to support the struggling A-share market, after its worst sell-off in almost a decade dealt a heavy blow to investor confidence and threatened to bring new risks to the country’s financial system. The People’s Bank of China (PBOC) would have a one-year swap that allows institutional investors to exchange illiquid assets for liquid ones with the central bank to buy stocks, according to its...

Description from South China Morning Post.

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  1. South China Morning Post Leans right Factuality: High HK
    Beijing launches US$15b asset swap to support China’s markets after sell-off

    China’s central bank announced on Monday it would start a fresh round of a swap facility to support the struggling A-share market, after its worst sell-off in almost a decade dealt a heavy blow to investor confidence and threatened to bring new risks to the country’s...