According to an agency report, China is considering a package of measures worth billions to stabilize the crisis-ridden stock market. Around $278.53 billion (two trillion yuan) were to be mobilized, primarily from offshore accounts of Chinese state-owned companies, for a stabilization fund that would invest in domestic assets via the Hong Kong stock exchange, Bloomberg News reported. In addition, 300 billion yuan will be earmarked for local funds to flow into onshore stocks through China Securities or Central Huijin Investment. The government is also exploring other options, some of which could be announced this week, the report added. The ongoing economic concerns are weighing on the markets in China. There was initially no comment from the Chinese stock exchange regulator.
China considers rescue package for domestic stock market – Economy
