Pan Gongsheng: The refinancing rate for share repurchase is 1.75%.
On September 24th, the State Council Information Office held a press conference on September 24th. Pan Gongsheng, President of the People's Bank of China, said at the meeting that the creation of stock repurchase and re-lending will guide commercial banks to provide loans to listed companies and major shareholders for repurchase and increase of shares of listed companies. The People's Bank of China will issue re-loans to commercial banks, and the proportion of financial support provided is the service re-loan interest rate of 1.75%. When commercial banks lend to customers, the interest rate will increase by 0.5 percentage points, that is, 2.25%. The first period is 300 billion. If this work is done well, it can be added later.