Stock market. Photo:VCG
China’s Shanghai Composite Index surged more than 100 points, closing above 3,000 points on Thursday, the first time above the key benchmark since July 2, following a series of pro-growth policy measures rolled out by policymakers that help lift up investor confidence.
The rally came after a key Communist Party of China (CPC) leadership meeting on Thursday that stressed the need to boost the country’s capital market, while actively promote medium- and long-term funds to enter the market, the Xinhua News Agency reported.
The Political Bureau of the CPC Central Committee held a meeting on Thursday to analyze and study the current economic situation and make further arrangements for economic work. It was noted at the meeting that the fundamentals of the Chinese economy and the favorable conditions such as a vast market, strong economic resilience and great potential have remained unchanged, Xinhua said.
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