China's Vice Premier Calls for Increased Support to Bolster Listed Companies During Market Downturn

In a recent address to national authorities, China's Vice Premier He Lifeng emphasized the need for enhanced support for listed companies as a measure to counteract the ongoing turmoil in the stock market. This statement comes at a critical time when the country's capital markets are experiencing significant volatility.

Stabilizing the Capital Market

In the wake of a prolonged slump in the stock market, the Vice Premier highlighted the pivotal role of listed companies in sustaining high-quality economic growth. He spoke at a national video conference dedicated to nurturing the progress of such corporations, underlining their contribution to technological autonomy, industrial modernization, and investor optimism.

Government agencies are being called upon to rally behind high-potential listed firms. By doing so, they aim to restore market sentiment and secure capital market stability. The Vice Premier encouraged concerted efforts to back these entities, suggesting that doing so is crucial for broader economic fortifications.

Addressing Property Market Concerns

The Vice Premier also took the opportunity to shed light on the subject of property financing. He urged regions to grasp the chance to put in place effective urban real estate financing coordination frameworks. This aspect of the market, particularly relevant given the recent court-ordered liquidation of China Evergrande Group, signifies another layer of fragility within China's property sector. The move added more strain to the already wobbly confidence in the market as officials intensify their attempts to mitigate an escalating crisis.

China, Market, Support