China conducts 2nd round of swap facility operations for 55 bln yuan to lift stock market

SHANGHAI, Jan 2 (Reuters) - China's central bank said on Thursday that it conducted the second round of operations under a newly-created funding scheme aimed at supporting the stock market for an amount of 55 billion yuan ($7.5 billion).

The operation provides easier access for eligible securities firms, fund companies and insurers to funding to buy stocks.

Twenty institutions participated in the auction and the fee rate is 10 basis points, the central bank said.

($1 = 7.2994 Chinese yuan renminbi)

(Reporting by Shanghai Newsroom; Editing by Toby Chopra)

((Li.Gu@thomsonreuters.com;))