China's Central Bank Cuts Stock Buyback Relending Rate to 1% to Support Markets

China's central bank has reduced the interest rate on its stock buyback relending facility to 1%, a 0.25 percentage point cut. This action follows applications from banks for over 200 billion yuan ($30 billion) in quotas this week and is part of a broader package of measures by Chinese regulators aimed at shoring up the stock market, boosting liquidity, and restoring investor confidence amid a recent downturn.