SHANGHAI/HONG KONG -- A major Chinese state-owned investment company said Tuesday it will increase holdings of mainland-listed exchange traded funds, helping to stem a recent decline in mainland and Hong Kong stock indexes.
Central Huijin Investment, which is controlled by China's Ministry of Finance, issued a brief statement on its official website saying it has "already expanded the scope of buying ETFs in recent days." It also vowed to "continuously enhance the act of buying and expand the size of holdings," though it stopped short of giving details, including the actual amount or time frame.
