Securities firms join refinancing pilot program

China Securities Finance Corp Ltd signed contracts with 22 more securities companies in a refinancing pilot program with a total credit limit of more than 15 billion yuan ($2.4 billion), the Securities Times reported on Jan 22.

As many as 52 securities companies, or about 70 percent of companies with a securities margin trading business, have joined the pilot program.

Since China launched refinancing program on Aug 30, 2012, CSFC has financed 30 securities companies for a total 50.7 billion yuan. The balance of refinancing was 11.65 billion yuan by Jan 18.

More business of in-ter-bank lending and is-suance of bonds will be introduced in the future to meet market demands, CSFC said.

wuyiyao@chinadaily.com.cn