Beijing calls for more efforts to stabilise stock market after renewed sell-off
South China Morning Post · Xiaofei Xu ·
China’s State Council pledges enhanced market stabilisation measures after the stock market fell again amid a broader global sell-off.
China’s State Council has pledged improved policy mechanisms to stabilise the country’s struggling stock market, after stocks slid again on Friday following a meltdown on the US markets.
“We will enhance the inherent stability of the stock market and foster the steady and healthy development of the capital market,” officials at the State Council executive meeting, chaired by Chinese Premier Li Qiang, were quoted as saying on Friday.
The comments came as the CSI 300 Index, which tracks major Chinese firms traded in Shanghai and Shenzhen, sank 1.4 per cent on Friday, following the market collapse in the United States.
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