Beijing:The State Council of China has deliberated on strategies to enhance the stability of its stock markets in response to a significant downturn in the shares of technology and artificial intelligence companies, amid widespread financial market volatility.
According to Yemen News Agency, Premier Li Qiang presided over an executive meeting on Friday that emphasized the improvement of mechanisms to stabilize the capital market and reinforce the inherent stability of the stock market.
Shares of technology firms "More Threads" and "MetaX" have experienced a decline of approximately 50 percent over the past six months. Additionally, the STAR 50 technology index on the Shanghai Stock Exchange has decreased by about 6 percent during the same timeframe.
To support the market, Chinese authorities have reactivated liquidity-injection tools aimed at encouraging stock purchases and have increased trading within state-backed investment funds. Notably, on Tuesday, nine exchange-traded funds (ETFs) witnessed a record net capital inflow of approximately 120 billion yuan ($18 billion).
The meeting also highlighted the need to expedite the implementation of infrastructure projects across six critical sectors, including water, energy, computing, telecommunications, underground pipeline networks, and logistics networks.
