China's central bank promises funding for sovereign fund to stablise markets hurt by US tariffs
The People's Bank of China, said it will step up funding aid, when necessary, to safeguard stability of the capital markets, which have been impacted by US President Donald Trump's tariffs.
China’s central bank said it will provide support to a sovereign fund when needed as it firmly supports its decision to buy more stocks.
The People’s Bank of China will step up funding aid via a re-lending program to Central Huijin Investment Ltd. when it’s necessary, in order to safeguard the stability of capital markets, it said in a statement Tuesday.
China’s state-backed funds including Central Huijin earlier announced plans to buy local stocks in a bid to support the market hurt by US tariffs.
Disclaimer: This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
- China's central bank is actively intervening to stabilize the stock market.
- The move reflects the broader economic impact of US tariffs on China's markets.
- State-backed funds are crucial in maintaining investor confidence during economic uncertainty.
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