World
China weighs $278bn rescue package for ailing stock market as property downturn continues
Financial market authorities in China are weighing up plans for a multi-billion dollar stimulus package to boost its struggling stock market
Chinese authorities are considering a package of measures to stabilise the slumping stock market, according to people familiar with the matter, after earlier attempts to restore investor confidence fell short and prompted Premier Li Qiang to call for “forceful” steps.
Policymakers are seeking to mobilize about 2 trillion yuan ($278 billion), mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilisation fund to buy shares onshore through the Hong Kong exchange ...
