The People's Bank of China officially starts supporting the stock market.

During the press conference held on Friday, the Governor of the People's Bank of China, Pan Gongsheng, made some statements regarding new support for the stock market.

He provided specific guidance on stock repurchase programs and relending to increase holdings, emphasizing that credit funds cannot enter the stock market in violation of regulations.

The People's Bank of China will provide facilities for stock repurchases and relending to purchase additional shares, which will have specific targeted objectives.

The key takeaway is that credit funds should not illegally enter the stock market and violate regulations.

The two main tools that the People's Bank of China will rely on to support the stable development of the capital market depend entirely on market-oriented principles, and the swap facility is not direct financial support from the central bank.