China’s financial regulators and state fund managers said on Tuesday they would support the country’s stock market after US President Donald Trump threatened additional 50 per cent tariffs on China overnight.
Central Huijin — a unit of the country’s sovereign wealth fund — said on Tuesday that it has “ample liquidity and smooth funding channels” to play its role of “market stabiliser,” while the People’s Bank of China followed with a statement saying it would support Central Huijin’s liquidity with refinancing tools when necessary.
In a separate notice, China’s National Administration of Financial Regulation said it would increase the proportion of insurance funds invested in the stock market.
Overnight, three other state-owned companies, also voiced their support by purchasing more exchange traded funds tracking mainland Chinese indices.
