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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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WATCH: China vowed to boost financial markets and increase economic growth. Sofia Horta e Costa reports.Source: Bloomberg
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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.