Rare China Vow on Market Support Puts Beijing’s Toolkit in Focus
- ‘Policies should be just around the corner’: Lingtongshengtai
- Lower taxes, same-day trading, foreign investment boost sought
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An unusual display of China’s commitment to rejuvenating its capital markets has sparked newfound hopes among traders in the nation’s $10 trillion stock market.
The rare pledge to “invigorate capital markets and boost investor confidence” at the July Politburo meeting — the strongest endorsement of markets by top leaders in at least a decade — is driving bets that Beijing will take steps to increase trading activity in the coming months. Changes being anticipated range from lower taxes and quicker settlement to measures aimed at boosting secondary-market liquidity and foreign investment.