On November 2, the People's Bank of China, together with the General Administration of Financial Supervision, the China Securities Regulatory Commission and other departments, held a symposium on facilitating exchanges of securities, funds, and insurance companies and a symposium on stock repurchases and refinancing to listen to financial institutions' business progress and opinions and suggestions, and to study and deploy work related to making full use of policy tools. Ren Zhiqiang, director of Huafu Securities Research Institute, said that overall, the current package of market stabilization policies is being promoted simultaneously from multiple dimensions such as structural monetary policy tools, repurchase systems for listed companies, supply of equity products, financing and securities lending and transaction mechanisms. Through expansion and fee reduction, the exchange convenience of securities, funds, and insurance companies was optimized, stock repurchases, increased holdings and reloans were changed to long-term institutional arrangements and interest rates were lowered to continuously reduce capital costs for institutions to enter the market, guide institutional capital to enter the market in an orderly manner, and at the same time optimize arrangements related to protected repurchase operations, relax restrictions on repurchase operations, and clarify requirements for entities to perform their duties, establish a closed-loop mechanism for special repurchase funds, Promote listed companies to rely on share repurchases to play an endogenous role in stabilizing the market. Furthermore, accelerate the implementation of the first batch of active ETFs, continue to enrich the supply of equity fund products, guide the countercyclical layout of public equity fund products, implement countercyclical optimization of risk control indicators for the two loans under a risk-controllable framework, moderately release financing space and revitalize existing trading capital. Relevant arrangements balance short-term expectations and long-term system construction, continue to improve the endogenous stability system of the capital market, steadily enhance market resilience, and provide support for the smooth operation of the capital market.

On November 2, the People's Bank of China, together with the General Administration of Financial Supervision, the China Securities Regulatory Commission and other departments, held a symposium on facilitating exchanges of securities, funds, and insurance companies and a symposium on stock repurchases and refinancing to listen to financial institutions' business progress and opinions and suggestions, and to study and deploy work related to making full use of policy tools. Ren Zhiqiang, director of Huafu Securities Research Institute, said that overall, the current package of market stabilization policies is being promoted simultaneously from multiple dimensions such as structural monetary policy tools, repurchase systems for listed companies, supply of equity products, financing and securities lending and transaction mechanisms. Through expansion and fee reduction, the exchange convenience of securities, funds, and insurance companies was optimized, stock repurchases, increased holdings and reloans were changed to long-term institutional arrangements and interest rates were lowered to continuously reduce capital costs for institutions to enter the market, guide institutional capital to enter the market in an orderly manner, and at the same time optimize arrangements related to protected repurchase operations, relax restrictions on repurchase operations, and clarify requirements for entities to perform their duties, establish a closed-loop mechanism for special repurchase funds, Promote listed companies to rely on share repurchases to play an endogenous role in stabilizing the market. Furthermore, accelerate the implementation of the first batch of active ETFs, continue to enrich the supply of equity fund products, guide the countercyclical layout of public equity fund products, implement countercyclical optimization of risk control indicators for the two loans under a risk-controllable framework, moderately release financing space and revitalize existing trading capital. Relevant arrangements balance short-term expectations and long-term system construction, continue to improve the endogenous stability system of the capital market, steadily enhance market resilience, and provide support for the smooth operation of the capital market.