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China Share Buyback Boom Aims to Help Sliding Equity Market

  • Shanghai Composite is one of world’s worst performers in 2018
  • More than 100 companies plan to or have repurchased shares
Bloomberg business news
Kenny Lam, president at Noah Holdings Group, discusses the Chinese markets and his strategy for investing.(Source: Bloomberg)
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More Chinese companies are pledging to buy back their shares as authorities seek to stem a $2 trillion rout in the equity market.

At least 109 firms have announced repurchase plans or bought back shares this year, according to data compiled by Bloomberg. Home appliances maker Midea Group Co. is one of the latest, with plans to spend up to 4 billion yuan ($600 million) buying its shares after they slid 19 percent from January to early July.