Wu Qing pledges to stabilize China's $15 trillion stock market following a significant decline in technology shares.

Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), pledged to stabilize the nation's $15 trillion stock market following a period of volatility caused by the unwinding of the AI trade. The market saw a significant tumble in Shanghai's benchmark technology stocks, prompting the regulator to commit to coordinated measures to arrest equity declines. To support the market, two central government-backed conglomerates spent approximately 60 billion yuan (US$8.86 billion) purchasing yuan-denominated stocks. Additionally, numerous listed companies announced plans for stock buy-backs or increased holdings to stem the downward trend. Wu Qing stated that the CSRC will strengthen regulatory oversight and promote high-quality development to ensure a transparent, fair, and open market order. During a meeting in Beijing, investors requested further measures to guide long-term capital, increase dividend payouts, and regulate both quantitative trading and AI adoption. The administration of the CSRC aims to ensure that investors can share in the benefits of the country's economic growth.

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