The People's Bank of China's new package of policies
1. Reduce the reserve ratio by 50-100bps to stimulate banks to lend
2. Reduce the minimum down payment ratio for second homes (25% to 15%): stimulate residents to buy houses
3. Reduce the stock of mortgage loans (estimated to be 50bps): reduce residents' interest pressure and stimulate consumption. 150 billion interest will be released every year
4. Increase the central bank's support ratio for affordable housing refinancing (60%-100%): reduce the risk borne by banks and promote housing refinancing
5. Create a fund and insurance company swap facility: allow funds and insurance companies to borrow money from the central bank with stocks or bonds as collateral, stimulate them to buy stocks, and securities companies, funds, and insurance companies can directly take money from the central bank...
6. Stock repurchase and increase special bond loans: allow listed companies to borrow money from the central bank with stocks as collateral, stimulate them to repurchase stocks
