Since the central bank launched stock buybacks, increased holdings, and refinancing, the implementation of tools has been closely monitored by the market. On October 21st, several commercial banks released announcements disclosing that they have formulated implementation plans for repurchase and increase in holdings special loans from multiple dimensions such as customer access, account management, due diligence approval, and risk control, improved internal control systems, and actively carried out repurchase and increase in holdings loan marketing. On the 20th, 23 Shanghai and Shenzhen listed companies also successively disclosed announcements, stating that the companies or controlling shareholders have reached intention agreements with banks or obtained loan commitment letters, and will use loan funds to repurchase or increase holdings of stocks, involving a total amount of more than 10 billion yuan. The refinancing for share repurchase and shareholding increase was jointly established by the People's Bank of China, the State Administration of Financial Supervision and the China Securities Regulatory Commission. The initial amount is 300 billion yuan, the annual interest rate is 1.75%, and the term is one year, which can be extended as appropriate. The target recipients are 21 national financial institutions, and the loan interest rate is generally not more than 2.25%. It is reported that the first batch of cooperative banks for stock repurchase and increase loans include Industrial and Commercial Bank of China, Bank of China, Construction Bank, China Merchants Bank, China CITIC Bank, and Agricultural Bank of China, involving listed companies with different ownerships, covering the main board, science and technology innovation board, and growth enterprise board. Industry insiders say that this move marks the first phase of a 300 billion yuan buyback and refinancing loan, which will further enhance the enthusiasm of listed companies to repurchase shares and major shareholders to increase their holdings. It will help improve the valuation of listed companies, strengthen the internal stable long-term mechanism of the capital market, and boost market confidence. All relevant commercial banks have clearly stated that they will make good use of the central bank's policy tools to support the stable development of the capital market, strengthen communication with listed companies and shareholders, and actively support the stable development of the capital market. Some listed companies have also actively applied to repurchase and increase their holdings of loans, and more listed companies may disclose corresponding announcements in the future. For example, according to the announcement by Bank of China on October 21st, it signed stock repurchase and increase loan agreements with six listed companies, including Sinopec, COSCO Shipping, COSCO Shipping, COSCO SHIPPING, COSCO SHIPPING, and Dongxin Corporation, on October 19th; On October 20th, the first batch of 23 listed companies' cooperation landing announcements released by the Shanghai Stock Exchange and Shenzhen Stock Exchange included 7 projects supported by Bank of China, ranking first in the industry. Among them, supporting the increase in holdings and share repurchases of Sinopec shareholders was announced as the "first order" by the Shanghai Stock Exchange. As of now, Bank of China has reached cooperation intentions with nearly 100 listed companies and has made clear loan commitments to 32 listed companies, covering multiple industries such as integrated circuits, transportation, high-end manufacturing, and commercial services. China Construction Bank announced that it will innovate the development of stock repurchase and increase holdings loan products, with the loan purpose specifically used for stock repurchase and increase holdings of listed companies, ensuring that the loan funds are used for their designated purposes and operate in a closed manner. As of now, China Construction Bank has reached cooperation agreements with listed companies such as Radio and Television Metrology, Linglong Tire, and Linuote Glass. The use of funds covers stock repurchases and increases, and the nature of enterprises includes state-owned and private enterprises. The interest rate is not higher than 2.25%, providing low-cost incremental financial support for listed companies and major shareholders, helping to inject liquidity into the market and stabilize market expectations The bank stated that in the next step, it will continue to do a good job in the follow-up loan disbursement work, strengthen the supervision and management of loan funds, ensure that loan funds are used for their designated purposes, and actively communicate and cooperate with listed companies and major shareholders to understand their financing needs and repurchase and increase plans, providing more accurate and efficient financial services. Liu Chen, a researcher at the Bank of China Research Institute, believes that more listed companies and major shareholders timely engage in stock repurchases to increase their holdings, which is conducive to boosting market confidence, optimizing corporate capital structure, and achieving financial and strategic goals, enhancing shareholder control over the company. In addition, it can stabilize or increase stock prices, which is beneficial for the long-term healthy development of enterprises. (New Society)