China Seeks to Steady Stocks With Buying and Sales Curbs
Authorities are encouraging share purchases and limiting some sales as they try to contain market pressure amid a weaker economic outlook.
Key takeaways
- China is encouraging companies and state funds to buy shares and some investors to limit sales.
- Regulators met Thursday to discuss measures to stabilize the stock market.
China is encouraging companies and state funds to buy shares while urging some investors to limit sales, Bloomberg HT reported, citing people familiar with the matter. Financial regulators met Thursday to discuss measures to stabilize the stock market.
Authorities also issued guidance to several large insurers, asking them to report their equity holdings and align investment decisions with broader economic goals, the report said.
The effort comes as China’s economy slowed more than expected in the second quarter, reaching its weakest level in more than three years. The slowdown has increased pressure on policymakers to speed up public spending to meet the annual growth target.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
