China's central bank boosted support for markets on Thursday as it launched a "swap facility" offering firms access to $70.6 billion in liquidity as Beijing seeks to raise confidence in the country's flagging economy.
The programme will allow "qualified... companies to exchange bonds, stock ETFs, CSI 300 constituent stocks and other assets with the People's Bank of China for high-grade liquid assets such as treasury bonds and central bank bills", the bank said.
