China Mobilizes State Capital, Listed Firms to Shore Up Markets
Rosey JuliarChinese state-owned holding companies and listed firms on Tuesday announced share buybacks and investment pledges as Beijing ramped up efforts to stabilize markets amid intensifying U.S. tariff pressures.
China Chengtong Holdings Group and China Reform Holdings Corp (Guoxin) pledged to increase their holdings in stocks and ETFs, with Guoxin committing CNY 80 billion through a relending scheme focusing on tech firms, SOEs, and ETFs.
This follows a similar initiative by state fund Central Huijin, an effort fully backed by the central bank, to bolster shareholdings and curb abnormal market volatility.
Additionally, another state holding company, China Electronics Technology Group, planned to enhance buybacks in its listed units.
Several other companies, including Sinopec, Orient Securities, Intco Recycling, and Spring Airlines, unveiled their own buyback plans, showcasing confidence and aiming to boost investor sentiment.
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