© Reuters. FILE PHOTO: An investor watches a board showing stock information at a brokerage office in Beijing, China October 8, 2018. REUTERS/Jason Lee/File PhotoSHANGHAI - More than 30 Chinese listed companies unveiled share buyback and purchase plans over the weekend while major mutual fund house E Fund Management Co said it would invest in its own product as Beijing steps up efforts to put a floor under a sliding stock market.
Amid government calls to revive the market, more than 20 listed companies, including Hainan Mining Co, Vatti Corp and Zhejiang Sanmei Chemical, unveiled share buyback plans or proposals late on Sunday. Separately, E Fund Management said it would use 200 million yuan of its own money to buy its own product, E Fund CSI 300 ETF, while slashing fees on a slew of exchange traded products.