Beijing Launches $15b Asset Swap to Support Markets After Sell-off

• China's central bank announced a $15 billion asset swap to support the stock market.
• The swap is in response to the worst sell-off in nearly a decade, impacting investor confidence.
• The People's Bank of China will begin the one-year swap on Tuesday.
• The initiative aims to mitigate risks to the country's financial system.
• The swap facility is a fresh round of a previously used mechanism.