China state firms vow to boost share purchases to stabilize plunging market
a year ago
- #Stock Market
- #Trade War
- #China
- Chinese state holding companies vow to increase share investments to stabilize the plunging stock market.
- China Chengtong Holdings and China Reform Holdings announce plans to boost share holdings following Central Huijin's similar commitment.
- China's stock benchmark drops 7% amid fears of a trade war and global recession.
- US imposes 34% tariffs on China, prompting China to retaliate with equivalent tariffs on US imports.
- Chengtong pledges to invest in stocks and ETFs to support market stability and expresses optimism about China's capital markets.
- China Reform Holdings (Guoxin) plans to invest 80 billion yuan in tech companies, state firms, and ETFs using a relending scheme.
- China Electronics Technology Group commits to increasing share buybacks in listed units to enhance investor confidence.