More China companies buyback shares as Beijing seeks to stabilise market

📆 30.10.2023 04:23:00
📰 ChannelNewsAsia

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SHANGHAI : 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.

China has already announced a slew of measures, including share purchases by state fund Central Huijin, to stem declines in a stock market that last week hit the lowest level since 2019.

In addition, companies such as CRRC Corp and Wuxi Lead Intelligent Equipment disclosed share purchase plans by their controlling shareholders.

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