This follows more than a hundred Chinese companies committing to buybacks or withdrawing share sales in August after China imposed new rules as part of measures to shore up a sinking stock market as the country's post-COVID-19 recovery lost momentum.
More than a dozen Chinese companies, including China Petroleum & Chemical Corp, China Railway Construction Corp, China Mobile said in stock exchanges filings on late Monday that they had purchased back their shares or plan to buy back shares in public markets. Wanma Technology and GoodWe Technologies Co both said in their own statements that their controlling shareholders would not sell stocks in the next six months, based on confidence in their companies' future development.
Source: News Formal (newsformal.com)
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