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CHINA PRESS: Listed Companies Benefit From PBOC Re-Lending Tool

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

A total of 161 companies received CNY37.39 billion in support from the central bank’s CNY300 billion re-lending facility to help listed firms and major shareholders buy back or increase shares as of Nov 27, China Securities Journal reported. The facility was expected to provide long-term funds for the stock market and increase investor confidence by boosting stock prices, however share prices fundamentally depend on the profitability of listed companies, the newspaper said, citing analysts.

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A total of 161 companies received CNY37.39 billion in support from the central bank’s CNY300 billion re-lending facility to help listed firms and major shareholders buy back or increase shares as of Nov 27, China Securities Journal reported. The facility was expected to provide long-term funds for the stock market and increase investor confidence by boosting stock prices, however share prices fundamentally depend on the profitability of listed companies, the newspaper said, citing analysts.