On January 2, the People’s Bank of China announced on December 31, 2024 that it would carry out the second convenient exchange operation of securities, funds and insurance companies in the near future. On the same day, the China Securities Regulatory Commission announced that the second round of swap facilitation operations had been launched and further expanded the scope of participating institutions in swap facilitation. As of the time of publication by Shanghai Securities News reporters, Guolian Securities, Dongwu Securities, Hongta Securities, and Fangzheng Securities have obtained a no objection letter from the China Securities Regulatory Commission regarding their participation in the exchange facilitation. Industry insiders say that the rapid implementation of tools and high enthusiasm for institutional participation reflect the determination of financial management departments to maintain capital market stability and good mechanism settings. In the medium to long term, the convenience operation of swaps is conducive to introducing large-scale incremental funds from the institutional side to the capital market for countercyclical adjustment, while injecting confidence into the market from an emotional perspective and boosting activity, playing an important positive role in maintaining the long-term stable operation of the market. (Shanghai Stock News)
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