PBOC Governor Pan: RRR could be further reduced by year-end depending on market liquidity

People’s Bank of China (PBOC) Governor Pan Gongsheng said on Friday that the Chinese central bank “provided specific directions for stock buybacks and reloans to increase holdings, and it is the bottom line that credit funds cannot enter the stock market in violation of regulations.” Additional quotes Central bank’s provision of stock buyback and additional purchase re-loans has specific directional aims, and a fundamental bottom line is that loan funds must not unlawfully enter the stock market.