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CNBC: China stocks surge after PBOC says correction 'almost over'

Equity markets in China outperformed the region on Monday, following a report by the China Securities Journal that quoted a senior central banker saying that the country's stock market correction is "almost over."

China Daily: Stocks surge on PBOC's move to expand relending plan

In the latest move to support the economy, Shanghai, Beijing, Chongqing and six other provinces and municipalities will allow banks to refinance high-quality credit assets rated by the People's Bank of China, said the central bank, as the program was first introduced in Guangdong and Shandong provinces last year.

Such policy tool, poised as supplements to the current collateral rules, aims to promote the efficiency and flexibility of the policy management, support smaller firms and bolster the real economy, said the statement.