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the central bank made a big move: lowering the reserve requirement ratio, interest rates, and existing mortgage rates. a-shares and hong kong stocks opened sharply higher

2024-09-24

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phoenix finance news when hong kong stocks opened today, the hang seng index opened up 1.79% and the hang seng technology index opened up 2.37%.

the shanghai composite index opened 0.79% higher, the shenzhen component index opened 0.80% higher, and the chinext index opened 1.01% higher. real estate, liquor, securities and other sector indices led the gains.

on the news front, the state council information office held a press conference this morning. the main leaders of the people's bank of china, the state administration of financial supervision, and the china securities regulatory commission introduced the relevant situation of financial support for high-quality economic development, and a number of major policies were introduced at the same time.

pan gongsheng, the governor of the central bank, said at a press conference that the central bank will firmly maintain a supportive monetary policy stance, increase the intensity of monetary policy regulation, and improve the precision of monetary policy regulation. several policies were announced: first, the deposit reserve ratio and policy interest rate will be lowered, and the market benchmark interest rate will be driven down; second, the interest rate of existing mortgage loans will be lowered and the minimum down payment ratio for mortgage loans will be unified. third, new policy tools will be created to support the development of the stock market.

wu qing, chairman of the china securities regulatory commission, said at a press conference held by the state information office that the csrc will issue opinions to promote the entry of medium- and long-term funds into the market and six measures to promote mergers and acquisitions and restructuring; resolutely crack down on illegal and irregular activities such as financial fraud and market manipulation, and strive to implement more exemplary cases in representative litigation and advance payments.