Online Reporter
China’s top securities regulator voiced strong confidence in the stability and long-term resilience of the country’s capital market, despite facing an array of global uncertainties caused by the US tariff policy.
Speaking at a State Council press conference held in Beijing yesterday, chair of China Securities Regulatory Commission (CSRC) Wu Qing acknowledged that some listed companies, particularly those heavily dependent on US exports, have been affected by the trade policy shifts.
However, Wu noted that Chinese A-share firms, including leading enterprises in the country, have exhibited strong resilience and adaptability in the face of global volatilities.
With nearly 90 percent of their business revenues coming from the domestic market, supported by China’s vast internal demand, “these companies have remained resilient,” he said.
The first-quarter reports show that listed companies’ net profits rose by 3,6 percent year-on-year, Wu said.
To support Chinese companies to better navigate the challenges, Wu said the CSRC is enhancing regulation while making every effort to help affected firms to cope with the impact of tariffs, Wu said, noting that over 350 A-share companies have announced stock buybacks or shareholding increase plans since April 7, showing confidence in their growth prospects.
Despite global uncertainties, Wu noted that Chinese assets continue to gain appeal among investors.
“Whether facing light winds or stormy waves, we have the confidence, conditions, and capability to achieve stable, healthy market development,” he said.
At the press conference, Wu announced a series of measures to promote capital market stability and vitality. The CSRC will soon issue revised rules on major asset restructuring for listed companies to enhance the capital market’s role as the main channel for mergers and acquisitions. — Global Times.
