China encouraged share purchases to stabilize the stock market while instructing investors to refrain from selling. Financial regulators held a meeting on the 15th to discuss market stabilization measures in response to the spread of declines in technology stocks.
The Chinese government, companies and government-backed funds moved to encourage share purchases, while some investors were instructed to refrain from selling. These measures were aimed at stabilizing the stock market, according to people familiar with the matter.
Financial regulators reportedly held a meeting on the 15th to discuss measures to stabilize the stock market. Details of the meeting were not disclosed, but measures were reportedly considered in response to the spread of declines in technology stocks.