Asianfin -- China's central bank, along with financial regulators, has urged key financial institutions to swiftly implement expansive policies aimed at supporting the economy and capital markets. In a statement released on Friday, the People's Bank of China (PBOC) called on banks and financial firms to enhance credit support for the real economy while ensuring steady growth in money supply and lending. The central bank also emphasized the need for effective execution of recent interest rate adjustments and two new funding mechanisms introduced to aid the stock market. The meeting, which took place on Wednesday, was jointly chaired by China's banking and securities regulators. Attendees included representatives from banks, brokerages, and fund management companies. In late September, the PBOC rolled out its most aggressive monetary measures since the COVID-19 pandemic, including interest rate cuts, a 1 trillion yuan ($140 billion) liquidity boost, and steps to support both the property and stock markets. For the first time, the central bank introduced two specific tools to assist the stock market: a swap program allowing brokerages, funds, and insurers to access liquidity, and a re-lending facility enabling listed companies to finance stock purchases. The prompt execution of these policies is expected to help China meet its 5% growth target for the year, despite ongoing challenges such as a sluggish property sector and weak consumer spending. China’s economy grew 4.6% in the third quarter compared to the same period last year, according to official data released on Friday. The PBOC highlighted the importance of "strengthening inter-departmental coordination, creating synergies, and fully leveraging policies" to restore market confidence, improve public expectations, and drive a sustained economic recovery.