{
  "id": 17965921,
  "title": "PBOC pledges support for stocks as China’s market slide defies rescue efforts",
  "url": "https://urgent.news/2026/11/03/pboc-pledges-support-for-stocks-as-chinas-market-slide-defies-rescue",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T12:50:16.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts"
  },
  "original_language": "en",
  "account": "China's central bank governor, Pan Gongsheng, has reaffirmed his support for the country's struggling stock market after a series of rescue measures have failed to stabilize plummeting share prices. Speaking at a work report presented to the National People's Congress, Pan pledged that more actions would be taken to ease financial risks in areas such as the capital market and property sector. He stated that monetary policy tools would be effectively implemented to support the capital market and a \"white list\" mechanism will be set up to maintain a smooth operation of the real estate industry. The announcement came after the market closed on Tuesday, when major A-share indicators continued to experience losses despite recent efforts by authorities, including the PBOC and the China Securities Regulatory Commission, to bolster investor sentiment.\n\nThe actions taken by the PBOC included launching a new one-year swap facility that allows institutional investors to exchange illiquid assets for liquid ones with the central bank in order to buy stocks. Additionally, the central bank reduced the interest rate on a re-lending program that supports share buybacks by a quarter of a percentage point to 1 percent. Investors are now anticipating stronger incentives from authorities to stem the market slide. Shen Yi, a Shanghai-based fund manager, noted that the central bank governor's continued support for the stock market has led investors to expect authorities to roll out more incentives to stabilize the market.\n\nThe Shanghai Composite Index fell 0.8% to 3,608.10, while the Star Market 50 Index, which tracks the country's technology stars, dropped 3.8% to 1,151.28 on Tuesday. The broader market sentiment has been affected by concerns over an uneven economic recovery and an unwinding of artificial intelligence investments. Chinese regulators have a history of intervening during periods of sharp market volatility, as steep declines can lead to heavy losses for millions of retail investors and potentially undermine market confidence.",
  "summary": "China’s central bank governor has reaffirmed support for the country’s beleaguered stock market after a series of rescue measures failed to put a floor under plummeting share prices. Pan Gongsheng, governor of the People’s Bank of China (PBOC), pledged in a work report presented to the standing committee of the National People’s Congress on Tuesday that more actions would be taken to ease…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}