China state-owned companies buy back shares

Move to boost investor confidence comes after government efforts fell flat

20231018 caixin

China's benchmark CSI 300 Index has dropped more than 6% this year.

WANG JUANJUAN and DENISE JIA, Caixin

About 50 Chinese state-owned companies are trying to bolster investor confidence by rolling out share buybacks or plans by big stockholders to expand their holdings after a series of other measures to prop up the stock market fell short.

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