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State investment arm vows to keep holding shares

Xinhua, July 8, 2015 Adjust font size:

Central Huijin Investment Co., Ltd., an investment arm of the Chinese government, announced Wednesday evening that it will not sell shares and has asked subsidiaries to keep and buy shares to stabilize the stock market.

Central Huijin recently purchased exchange traded funds (ETF), a marketable security that tracks bonds, commodities and a basket of assets, and said it will continue to do so.

The stock market has plunged, with the benchmark Shanghai Composite Index tumbling more than 30 percent in eighteen trading days. Chinese shares fell nearly 6 percent at closing Wednesday. Endi