China's central bank vows to safeguard capital market stability

(ECNS)-- The People's Bank of China (PBOC), the country's central bank, stated on Tuesday that it strongly supports Central Huijin Investment's initiative to increase holdings of exchange-traded funds (ETFs). The bank pledged to provide sufficient relending support when necessary to ensure the stable functioning of the capital market.

Central Huijin, a subsidiary of China's sovereign wealth fund, affirmed on Monday that it fully recognizes the current investment potential of the A-share market and remains committed to maintaining market stability.

China Chengtong Holdings Group Ltd., a capital management firm overseen by the State-owned Assets Supervision and Administration Commission, has also expanded its holdings of ETFs and shares in centrally administered state-owned enterprises, reinforcing efforts to ensure the stability of the capital market.

(By Mo Honge)