PBoC backs state fund’s efforts to stabilise stock market
Chinese central bank also fixes currency at lowest level since September 2023
The People’s Bank of China has vowed to support the state-owned fund that has been buying shares in an effort to stabilise the country’s stock markets.
On April 7, Central Huijin Investment, a sovereign wealth fund under the state-owned China Investment Corporation, announced it had been purchasing more exchange-traded funds in the country’s stock markets. Over the previous five days, the stock markets had seen large selloffs as investors grappled with the effects of US tariffs.
The PBoC today
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