Economics
China Makes Strong Vow to Ease Crackdowns After Market Turmoil
- Key committee led by Vice Premier Liu He makes statement
- Stocks surged after the announcement on the promise of support
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China made a strong push to stabilize battered financial markets, promising to ease a regulatory crackdown, support property and technology companies and stimulate the economy.
The government should “actively introduce policies that benefit markets,” according to a meeting of China’s top financial policy committee led by Vice Premier Liu He, the country’s top economic official. That vow to take investors interests into account comes after a sell-off in domestic shares due to fears over growth risks and tough regulation of real estate and internet companies.