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More SOEs To Increase Shareholdings To Boost Market Sentiment

CHINA PRESS
MNI (Singapore)

A further 10 state-owned companies listed on the Shanghai and Shenzhen stock exchanges disclosed share buybacks or stake-hiking plans on Monday, following the sovereign fund Central Huijin raised stake in the Big Four banks last week to boost market confidence. China Coal Energy, China Railway Construction, China Three Gorges and Hikvision plan to increase holdings of company shares. Another 13 companies on the Science and Technology Innovation Board are also planning buybacks and shareholding increases, while three have voluntarily promised not to reduce holdings. (Source: Yicai)

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