In order to maintain the smooth operation of the capital market, the People's Bank of China has stepped up efforts to implement a stock repurchase policy to increase holdings and refinance. 1. Starting from November 4, 2026, the interest rate for stock repurchases and refinancing will be lowered by 0.25 percentage points to 1%. Support targets for stock repurchases and increases holdings and reloans are provided to 21 national banks and 5 systemically important commercial banks. The support ratio is 100%, and the period is 1 year, and it can be extended according to bank needs. Banks can appropriately add points to reloan interest rates, reasonably determine loan terms and interest rates for stock repurchases and increase holdings, speed up loan investment, and enhance the market value management capabilities of listed companies and major shareholders. 2. Provide banks with sufficient reloan amount guarantees. After the November 2 stock repurchase refinancing symposium, banks have submitted to the People's Bank of China an application for a stock repurchase reloan amount exceeding 200 billion yuan. In the future, the People's Bank of China will continue to fully meet banks' refinancing needs and support banks to actively meet the financing needs of listed companies and major shareholders.

In order to maintain the smooth operation of the capital market, the People's Bank of China has stepped up efforts to implement a stock repurchase policy to increase holdings and refinance. 1. Starting from November 4, 2026, the interest rate for stock repurchases and refinancing will be lowered by 0.25 percentage points to 1%. Support targets for stock repurchases and increases holdings and reloans are provided to 21 national banks and 5 systemically important commercial banks. The support ratio is 100%, and the period is 1 year, and it can be extended according to bank needs. Banks can appropriately add points to reloan interest rates, reasonably determine loan terms and interest rates for stock repurchases and increase holdings, speed up loan investment, and enhance the market value management capabilities of listed companies and major shareholders. 2. Provide banks with sufficient reloan amount guarantees. After the November 2 stock repurchase refinancing symposium, banks have submitted to the People's Bank of China an application for a stock repurchase reloan amount exceeding 200 billion yuan. In the future, the People's Bank of China will continue to fully meet banks' refinancing needs and support banks to actively meet the financing needs of listed companies and major shareholders.