The People's Bank of China (PBOC) announced on Monday it would launch a new one-year swap arrangement, allowing institutional investors to exchange less liquid assets for more liquid ones to purchase stocks, the South China Morning Post reported, citing a PBOC statement. The report stated that 31 institutions have applied to participate, with a total application size of 100 billion yuan. The mentioned figure refers to the applied amount by institutions, not the amount already disbursed.