In October 2024, the People’s Bank of China (PBOC), in collaboration with relevant authorities, launched two instruments to support the stable development of the capital market, namely, the Securities, Funds and Insurance companies Swap Facility (SFISF) and the Central Bank Lending Facility for Share Buybacks and Shareholding Increases, with initial quotas of RMB500 billion and RMB300 billion, respectively. Operated in accordance with market principles, the two instruments have played a proactive role in promoting the stable operation of the capital market. To further enhance the convenience and flexibility in application, the two instruments will be operated under a shared quota of RMB800 billion, effective immediately. The adjustment aims to better accommodate the diverse needs of financial institutions and bolster the intrinsic stability of the capital market.