Chinese stocks have suffered their worst fall in 27 years after efforts by Beijing to stimulate the world’s second-largest economy disappointed investors.
However, the hoped-for policy plans were not forthcoming. Instead, the NDRC officials mostly summarised September’s announcements and commented on the general economic situation. However, the markets remain higher than where they were a month ago, before the central bank and the politburo proposed a “package of incremental policies” to stabilise China’s ailing economy. The CSI 300 index is 7% higher than it was a year ago.
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