Asianfin— People's Bank of China (PBOC) Governor Pan Gongsheng on Tuesday announced the launch of the central bank's first structural monetary policy tool to support the capital market. One key measure is the introduction of a swap facility for securities firms, fund managers, and insurance companies. This facility allows eligible institutions to use bonds, stock ETFs, and CSI 300 Index components as collateral to swap for highly liquid assets like government bonds or central bank bills from the PBOC. The funds obtained through this facility are strictly designated for stock market investments. Pan Gongsheng revealed that the initial scale of the swap facility is set at 500 billion yuan, with the potential for further expansion depending on its success. "I spoke with Chairman Wu Qing of the CSRC, and if this program performs well, we can introduce another 500 billion yuan, or even a third 500 billion. We're open to further actions," Pan remarked.