China state firms vow to boost share purchases to calm markets


China’s stock benchmark rebounded in early trade on April 8. - AFP

BEIJING: Several Chinese state holding companies vowed on Tuesday (April 8) to increase share investment while a slew of listed companies announced share buybacks as Beijing stepped up efforts to stabilise a stock market rocked by US tariff woes.

The announcements by China Chengtong Holdings Group and China Reform Holdings Corp come a day after state fund Central Huijin said it would increase share holdings to steady markets.

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