Three departments: The stock buyback and increased holdings relending policy will shift from a temporary arrangement to a long-term institutional arrangement; the relending rate will be lowered from 1.25% to 1%.

Zhitong Finance APP has learned that on November 2, 2026, the People's Bank of China, together with the National Financial Regulatory Administration, the China Securities Regulatory Commission, and other departments, successively held a symposium on the securities, fund, and insurance company swap facility and a symposium on the relending facility for stock repurchases and increased shareholdings. The meetings proposed that, in order to maintain capital market stability and enhance market resilience and confidence, the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission will continue to strengthen policy support, further optimize policy elements and implementation rules, and encourage financial institutions to make full and effective use of policy tools. Securities, fund, and insurance company swap facility operations will be carried out in a timely manner, the number of participating institutions will be further increased, swap rates will be appropriately lowered, and pledge and operational models will be optimized. The relending policy for stock repurchases and increased shareholdings will be shifted from a phased arrangement to a long-term institutional arrangement, and the relending rate will be reduced from 1.25% to 1%; financial institutions will adhere to the principle of market-based pricing, reasonably add a margin on the basis of the relending rate, and increase loan disbursement.