China's State Companies Rally to Stabilize Stock Market Amid U.S. Tariff Tensions

Several Chinese state-owned companies have committed to increasing share investments and buybacks as part of efforts to stabilize the stock market, which has been destabilized by U.S. tariffs. Key state firms, including China Chengtong Holdings and China Reform Holdings, are spearheading these efforts with substantial financial backing.

In a significant move to counteract market instability, several Chinese state-owned enterprises have announced plans to boost share investments and initiate buybacks. This strategic response comes as the nation grapples with the ramifications of U.S. tariff hikes and their ripple effects on the global economy.

Leading the charge, China Chengtong Holdings Group and China Reform Holdings Corp have unveiled initiatives designed to stabilize the tumbling stock market, which saw a notable recovery in early trading following announcements. These steps are part of a broader government-backed effort to support domestic listed companies and leverage exchange-traded funds for market stability.

Further reinforcing investor confidence, major corporations such as Sinopec and China Electronics Technology Group have unveiled substantial buyback plans. By deploying considerable financial resources, these companies and state funds like Central Huijin are positioning China to weather economic challenges and bolster its capital market against external pressures.

(With inputs from agencies.)