China Construction Bank Zhongshan Branch on January 8 granted the first stock buyback loan in Zhongshan, with an amount of 18 million yuan.
On October 18, 2024, the People's Bank of China, together with the National Financial Regulatory Administration and the China Securities Regulatory Commission, established a stock buyback loan program to encourage and guide financial institutions to grant prime-based loans to eligible listed companies and principal shareholders, supporting them to buy back and increase holdings of shares of listed companies.
In October 2024, China Construction Bank Zhongshan Branch made a tailored solution of stock buyback loan for a listed company engaged in motor development and manufacturing in Zhongshan, and approved a total loan amount of 180 million yuan. Later in November, the company announced its plan to buy back its shares for the subsequent employee stock ownership or stock incentive plans.
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