China’s central bank says opens up $70.6 bn in liquidity to boost market

China’s central bank says opens up $70.6 bn in liquidity to boost market …C0NTINUE READING HERE >>>

A woman walks past the headquarters of the People’s Bank of China, the country’s central bank, in Beijing on July 9, 2024..
Photo: ADEK BERRY / AFP/File
Source: AFP

China’s central bank boosted support for markets on Thursday as it launched a “swap facility” offering firms access to $70.6 billion in liquidity as Beijing seeks to raise confidence in the country’s flagging economy.

The programme will allow “qualified… companies to exchange bonds, stock ETFs, CSI 300 constituent stocks and other assets with the People’s Bank of China for high-grade liquid assets such as treasury…

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