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China State-Owned Fund, Citic Guotong Deploy Over 600 Billion Yuan to Support Stock Market Stability

GateNews
Stocks
CITIC1.41%

According to PANews, on July 19, China State-owned Assets Super Fund Management (国新控股) deployed over 500 billion yuan through stock buyback and special refinancing loans to maintain market stability, with plans to continue leveraging policy tools and company funds to increase holdings in state-owned enterprise stocks.

Meanwhile, China Citic Guotong and its affiliates bought approximately 100 billion yuan worth of state-owned and technology enterprise stocks and ETFs, committing to further increases using self-raised funds and special refinancing loans.

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