Chinese state-owned capital operation firms announce share purchase plans amid confidence in China's capital market

 China Reform Holdings Corporation Ltd. and China Chengtong Holdings Group Ltd., two central state-owned investment firms, announced on Sunday that they remain firmly confident in the prospects of China's capital market and will continue to increase holdings in stocks of central state-owned enterprises (SOEs).

China Reform Holdings said that it remains confident in the development prospects of China's capital market and firmly supports the technological innovation and high-quality development of central SOEs.

Its subsidiary has utilized over 50 billion yuan (about 7.4 billion U.S. dollars) from the special re-lending facility for share buybacks and stake increases, along with matching funds, to maintain market stability.

The company said it will continue to make full use of the re-lending policy tool while also using its own funds to increase holdings in stocks of central SOEs, resolutely safeguarding the strategic value of core capital market assets.

On Sunday evening, China Chengtong said that it and its subsidiaries have recently made cumulative purchases of nearly 10 billion yuan worth of stocks of central SOEs.

China Chengtong added that it firmly believes in the prospects of China's economy and capital market, and will continue to use its own funds and stock buyback re-lending facilities to make large-scale purchases of SOE and technology enterprise stocks and exchange-traded funds, fully committed to maintaining the stable operation of the capital market. ■