China's listed companies rush to tap central bank funding for share purchases

Quick Summary:

SHANGHAI: More than 20 Chinese listed companies have announced plans to tap special central bank lending for share purchases, according to exchange filings, days after the People's Bank of China (PBOC) kicked off the US$42 billion funding scheme.

Analysts expect more firms to follow suit, injecting fresh cash into the stock market and adding fuel to a rally that appears to be losing steam.

The scheme is worth 300 billion yuan (US$42.24 billion) initially.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaOman

Topics: Purchases Share Special Bank Billion China Yuan Listed Scheme Loans Companies

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 09:44:05 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 392 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23145733

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Official Website: channelnewsasia.com

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