Breakingviews - COMMENTARY: China's stock rout prompts new contortions

HONG KONG, Nov 3 (Reuters Breakingviews) - By making buyback lending cheaper, Beijing is turning an emergency market rescue ⁠into a permanent tool. With the benchmark index down 13% this year, Xi Jinping's mission to reflate asset prices looks challenging. The benefits may only be felt later but earnings ⁠need to improve.

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Context News* Chinese regulators on November 2 rolled out a ⁠number of measures, from conducting swap operations to upgrading a lending ⁠facility for stock buybacks by listed companies, as ⁠part of efforts to stabilise struggling capital markets.

Editing by Robyn Mak; Production by Eileen Soreng

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Ka Sing Chan

Thomson Reuters

Chan Ka Sing is China Columnist for Reuters Breakingviews. Prior to joining Reuters, he worked at Week in China, Hong Kong Economic Journal and Dow Jones Newswires.