GreenergyDaily

Apr. 9, 2025

1. Chinese state holding companies vowed on Tuesday to increase share investment while a slew of listed firms announced share buybacks as Beijing stepped up efforts to stabilise a stock market rocked by U.S. tariff woes.

2. The announcements by companies including China Chengtong Holdings Group and China Reform Holdings Corp come a day after state fund Central Huijin said it would increase share holdings to steady markets.

3. "We are firmly optimistic toward the growth prospects of China's capital markets," Chengtong said in a statement, vowing to support high-quality growth of Chinese listed companies.

4. Separately, more than 100 Chinese listed companies have published announcements regarding share purchases or buybacks to bolster confidence in a market that slumped to six-month lows this week.

5. More than 20 listed companies controlled by the central government unveiled buyback plans under the guidance of China's state asset regulator.

6. Oil giant Sinopec said its state-owned parent plans to buy its China- and Hong Kong-listed shares worth at least 2 billion yuan over the next 12 months to demonstrate "confidence in future growth prospects."

7. Other listed firms that unveiled share buyback plans include PetroChina, CNOOC, China Shenhua Energy Co and GD Power Development.

8. China's stock market rebounded on Tuesday and extended gains into Wednesday, clawing back some of Monday's 7% slump.