China’s stock market fell drastically in October, report saidCentral bank A symposium on stock buybacks, holdings and re-borrowing will be held tomorrow, and the Department of Financial Management will also hold a meeting to study and promote the use of capital market instruments. Outsiders speculate that this action is designed to stabilize the stock market.
Not only did A-shares fall sharply in October, yesterday China’s official manufacturing purchasing managers’ index (PMI) for October fell to 49.3, and the non-manufacturing business activity index fell to 49.7, both falling into the contraction zone. Among them, the manufacturing PMI has shrunk the most in the past three months, rekindling concerns about an economic slowdown.
The Associated Press of Finance and the 21st Century Economic Net quoted industry insiders today as saying that the People’s Bank of China (Central Bank of China) will convene a meeting with major banks tomorrow along with the State Administration of Financial Supervision and the Securities Regulatory Commission to study and optimize stock repurchase, holdings and re-lending policies.
According to the Financial Associated Press, there is speculation in the industry that the Department of Financial Management is preparing to further stabilize the market in this meeting.
The 21st Century Business Herald also reported that securities companies and fund companies have received notice that the People’s Bank of China and the China Securities Regulatory Commission held a meeting on the 2nd to promote study and support for the use of capital market instruments.
