China stock re-lending applications hit nearly $30 billion

BEIJING, Nov 4 (Reuters) - Applications to the People's Bank of China for share repurchase and re-lending has exceeded 200 billion yuan ($29.98 billion), the central bank ⁠said on Wednesday.

The central bank has intensified the implementation of share buyback and increased re-lending policies to maintain stable capital market operations, it ⁠said.

The PBOC and financial and securities regulators had convened major banks ⁠on Monday to discuss optimising the relending policy for ⁠share buybacks and purchases.

($1 = 6.6701 Chinese yuan ⁠renminbi)

Reporting by Liz Lee and Shanghai newsroom; Editing by Christian Schmollinger