China's state assets regulator vows full support for central SOEs to ramp up share purchases, buybacks

China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said on Tuesday it fully supports central state-owned enterprises (SOEs) in expanding share purchases and buybacks to safeguard shareholders' rights and consolidate market confidence.

These remarks were made after several listed companies held by central SOEs announced share buybacks on Monday and Tuesday.

The regulator will actively advise central SOEs and their listed subsidiaries to strengthen efforts in share purchases and buybacks, and enhance corporate value, said an official with the SASAC.

The commission also pledged to intensify guidance concerning market value management for central SOEs, driving them to provide quality investment targets that are responsible, performance-driven and sustainable for investors, while making further contributions to the healthy and stable development of the capital market. ■