The reporter learned from the industry that the financial management department will hold a meeting on November 2. Some securities companies and fund companies received a notice. On November 2, the People's Bank of China and the China Securities Regulatory Commission held a meeting to study and promote the use of capital market instruments. On the same day, the People's Bank of China, the General Administration of Financial Supervision, and the China Securities Regulatory Commission will also convene a meeting of major banks to study and optimize stock repurchase and increase refinancing policies. Stock buybacks to increase holdings and reloans are one of two monetary policy tools to support capital markets. On October 18, 2024, the People's Bank of China, in conjunction with the General Financial Supervisory Authority and the China Securities Regulatory Commission, issued the “Notice on Matters Relating to Establishing Stock Repurchase and Increase Refinancing”, which establishes stock repurchases and reloans to encourage and guide financial institutions to provide loans to eligible listed companies and major shareholders to support them to repurchase and increase their holdings of listed companies' shares.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.