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CHINA PRESS: The local governments of Beijing and Guangzhou are trying to ease
the liquidity pressure for listed companies amid the A-share stock rout,
following Shenzhen's purchases of tens of billions of shares, Shanghai
Securities Journal reported on Thursday.
- The Gangzhou government is considering bailing out its listed firms with the
risk of equity pledge, according to a government official, after studying
Shenzen's policies, the newspaper said;
- Beijing has set up a fund worth CNY10 billion to support high-quality tech
firms, from which companies can get funded by assigning no more than 10% of the
equity, the report said.