China pushes to stabilize the struggling financial markets, vowing to ease a regulatory crackdown support property, and tech firms, according to a report by Xinhua on Wednesday.
- He Liu Vice Premier stated that the government should actively come up with policies that benefit markets. That commitment to take investors’ interests into consideration emerge after a sell-off in domestic shares.
- The meeting gave investors reassurance that the wide-scale crackdown on internet companies was coming to a close and that the government would prevent potential collapse in the property market.
- China’s banking regulator stated that they would support insurance companies to expand investments in stock markets.
- The Hang Seng China Enterprises Index rose 13% at the close in Hong Kong, the most jump since 2008, recovering nearly 50% of this year’s losses.
The Financial Stability and Development Committee meeting confirmed that there is a need to boost the economy in Q1 and promised investors relief on several regulatory pushes. Hang Seng China Index up +12.50%