Catenaa, Tuesday, April 08, 2025- China State-owned Assets Supervision and Administration Commission said on Tuesday it fully supports central state-owned enterprises to increase their stock holdings and share buybacks to reduce impact on the ongoing trade war on the stock market.
Several Chinese state-owned companies, including oil giant Sinopec, have already announced plans to buy back shares to bolster investor confidence.
The regulator will actively advise central SOEs and their listed subsidiaries to strengthen efforts in share purchases and buybacks, and enhance corporate value.
The commission also pledged to intensify guidance concerning market value management for central SOEs, driving them to provide quality investment targets that are responsible, performance-driven and sustainable for investors, while making further contributions to the healthy and stable development of the capital market
Last week, U.S. President Donald Trump introduced additional tariffs of 34% on Chinese goods as part of steep levies imposed on most U.S. trade partners, bringing the total duties on China this year to 54% and sending global stock markets tumbling.
The Chinese government has stepped up efforts to shield its economy from global market turmoil in response.
Trump has also threatened an additional 50% tariff on Chinese imports if China does not withdraw the 34% levies on U.S. goods it announced last week.
China’s benchmark Shanghai Composite Index edged up by 1.58% on Tuesday, recovering some losses after plunging more than 7% the previous day. The index is down by 6.15% so far in the year.
