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The
additional funding would increase the war chest available to
China Securities Finance Corp. (CSF) to 5 trillion yuan -- a
figure that could still change depending on market conditions,
according to Bloomberg, citing unidentified sources.
The CSF has been thrust into the spotlight since shares
plummeted in June as a conduit for China's central bank to
inject funding directly into the market.
China initially made 3 trillion yuan of funding available for
CSF in July to offer liquidity support to brokers and to buy
stocks and mutual funds.
The agency is seeking to borrow money for three to 12 months and
at rates of up to 4.4 percent, Bloomberg reported, citing
sources with knowledge of the agency's plans.
(Reporting by Gerry Shih; Editing by Mark Potter)
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