Last week, China's A-share market experienced volatility, with the Shanghai Composite Index falling below the 3800 mark. Ahead of this week’s trading, China Chengtong and China Reform Holdings—known as part of the country’s 'national team'—announced purchases worth billions of yuan.
On Sunday evening (July 19), China Chengtong published a WeChat statement, announcing that recently, China Chengtong and its subsidiaries, Chengtong Capital and Chengyang Investment, have focused on substantial investments in Chinese stock assets of state-owned and central enterprises, accumulating nearly 10 billion yuan in purchases.
China Chengtong stated that it firmly believes in the prospects of China’s economy and capital markets, and will continue to use its own funds and stock repurchase plus relending to make large purchases of stocks and ETFs of central SOEs and technology companies, in order to fully support stable operations of the capital market.
Almost at the same time, China Reform Holdings also published on its WeChat account that Guoguoxin Holdings Co., Ltd. is firmly optimistic about the development prospects of China's capital markets and strongly supports technological innovation and high-quality development in central SOEs. Its subsidiary, Guoxin Investment Co., Ltd., along with related entities, has already used special relending for stock repurchase and supporting funds exceeding 50 billion yuan (RMB; 30.161 billion ringgit), in order to maintain market stability.
Almost at the same time, China Reform Holdings also published on its WeChat account that Guoguoxin Holdings Co., Ltd. is firmly optimistic about the development prospects of China's capital markets and strongly supports technological innovation and high-quality development in central SOEs. Its subsidiary, Guoxin Investment Co., Ltd., along with related entities, has already used special relending for stock repurchase and supporting funds exceeding 50 billion yuan (RMB; 30.161 billion ringgit), in order to maintain market stability.
China Reform Holdings stated that in the future it will continue to make full use of relending as a policy tool, and will also utilize its own funds to further increase holdings of central SOE stocks, resolutely protecting the strategic value of core assets in the capital market and ensuring stable and healthy market operations.
Last week, the A-share market underwent volatile adjustments, with the Shanghai Composite Index consecutively losing the 3900 and 3800 levels within the week.
According to China Central Television Finance, on Monday (July 20), the China Securities Regulatory Commission will hold a symposium with listed companies, securities firms and fund institutions to hear opinions and suggestions on promoting the stable and healthy development of the capital market.
Last week, the A-share market underwent volatile adjustments, with the Shanghai Composite Index consecutively losing the 3900 and 3800 levels within the week.
According to China Central Television Finance, on Monday (July 20), the China Securities Regulatory Commission will hold a symposium with listed companies, securities firms and fund institutions to hear opinions and suggestions on promoting the stable and healthy development of the capital market.