HONG KONG : China's securities regulator met with representatives from top Western asset managers on Friday to reassure them about the country's economic prospects, as its post-COVID recovery falters, two people with knowledge of the matter told Reuters. The China Securities and Regulatory Commission (
HONG KONG : China's securities regulator met with representatives from top Western asset managers on Friday to reassure them about the country's economic prospects, as its post-COVID recovery falters, two people with knowledge of the matter told Reuters.
The CSRC did not immediately responded to Reuters' request for comment. Fidelity declined to comment.The meeting comes as Beijing scrambles to shore up investor confidence in the market, which has been hobbled by a deepening property sector crisis and weakening growth in the world's second-largest economy.The economy grew at a sluggish pace in the second quarter amid weak demand at home and abroad, prompting analysts to downgrade their growth forecasts for the year.
Chinese authorities are planning to cut the stamp duty on stock trading by as much as 50 per cent, Reuters reported on Friday, citing sources, in a further attempt to revitalise the struggling stock market.
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