China promises more local stock market support from sovereign fund

China Securities Regulatory Commission (CSRC) head:

• To support Central Huijin to bolster markets.
• Central Huijin, PBOC acting as quasi-stabilization fund.
• China will roll out reform measures for tech boards.
• Ample preparations made for dealing with external shocks.
• Will forcefully promote long-term capital into the stock market.
• Confident to achieve stable development of China’s stock market.

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Shanghai Composite update:

This article was written by Eamonn Sheridan at www.forexlive.com.