Chinese state-owned investment firms China Reform Holdings Corp (CRHC) and China Chengtong Holdings Group have announced fresh purchases of domestic equities following a sharp sell-off in the country's stock market, in a move aimed at restoring investor confidence, Reuters reported.
CRHC said entities under its investment arm have deployed more than 50 billion yuan ($7.38 billion) through a combination of special relending facilities and matching funds to support share buybacks and increase stakes in listed companies, according to a statement cited by Reuters.
