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Whether the two instruments are regarded as refinancing management

Inquiry of relevant information shows that the two tools are regarded as refinancing management. Two new special re-lending tools were established. Based on the different positioning of re-lending functions, the central bank adjusted the types of re-lending into four categories, including liquidity re-lending, credit policy-supported re-lending, financial stability re-lending, and special policy-based re-lending. The principle of the two tools is deemed to be refinancing management.