PBOC Governor provides directions for stock buybacks

Chinese state media with comments from Pan Gongsheng, People’s Bank of China governor

PBOC
provides specific directions for stock buybacks and reloans to
increase holdings, and it is the bottom line that credit funds cannot
enter stock market in violation of regulationsCentral
bank’s provision of stock buyback and additional purchase re-loans
has specific directional aims, and a fundamental bottom line is that
loan funds must not unlawfully enter the stock market
The two tools to support the stable development of the capital
market are entirely based on market-oriented principles, and swap
facility is not direct financial support from central bank

This article was written by Eamonn Sheridan at www.forexlive.com.