China Vows To Firmly Protect Capital Market Stability

CHINA – Meanwhile, China is pulling out all the stops to stabilize its stock market. The Chinese Central Bank says it’s backing state-owned central Huijin to ramp up purchases of stock index funds, with re-lending support if needed.

Local financial regulators are also loosening rules to allow more equity investments, and the National Social Security Fund has already increased its domestic stock holdings.

Several major state-owned enterprises, including Sinopec and China Chengtong, are joining in with stock buybacks.

Officials say these moves are all about restoring confidence and keeping markets steady.