Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

China’s Stock Market in Crisis: Premier Li Qiang Promises Stability

Eugene Park Views  

中증시 4년만에 최저…당국 “강력 안정조치 취할 것”
A view of Shanghai, China. EPA-Yonhap News

As the Hong Kong and Chinese stock markets plunge, China has announced it will take stronger and more effective measures to stabilize the slumping stock market.

Reuters reported on the 22nd, citing Chinese state-run media, that the Chinese State Council made this announcement at a meeting chaired by Premier Li Qiang. The State Council emphasized that it will take more “forceful measures,” strengthening the investment of medium and long-term funds into the capital market to promote stability and investor confidence.”

While the US and Japanese stock markets are soaring, Chinese stocks are plummeting. Amid concerns about an economic slowdown, the Shanghai index fell 2.68% to 2756.34, a nearly three-year and nine-month low, due to disappointment that the People’s Bank effectively froze the benchmark interest rate, known as the Loan Prime Rate (LPR), for the fifth consecutive month. The Hang Seng Index in Hong Kong also fell 2.27%, and the Hang Seng China Enterprises Index fell 2.44%.

The State Council also announced on the same day that it will accelerate the upgrade of artificial intelligence (AI) in major industries.

Eugene Park
content@www.kangnamtimes.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • El Salvador's Bitcoin Reserves See $25 Million Surge After Trump’s Win
  • Who Is Susie Wiles? Meet Trump’s Loyal ‘Ice Baby’ and First Woman Chief of Staff
  • Trump’s 2nd Term Family Drama: Lara and Don Jr. Take Center Stage, Ivanka Steps Aside
  • Boston Dynamics’ Atlas Robot in Hot Dog Costume Stuns with Human-Like Skills
  • With $180M in Support, Musk Backs Trump’s Victory—And Makes It Meme-Worthy
  • Swifties and Celebrities Left Reeling After Trump’s Election Win

Weekly Best Articles

  • BMW’s ‘Double Coffin Grille’ Faces Backlash in Unusual 1 Series Mod
  • E30 M3 Returns: A Fresh Design Brings BMW’s Classic into the Future
  • Lexus LFA’s Legendary Successor: What to Expect from the Upcoming Supercar
  • Renault’s Eco-Friendly Emblème Promises 90% Lower Emissions, 621-Mile Range
  • Honda’s New Passport: Sleek Redesign and 10-Speed Automatic Transmission Coming Soon
  • Tesla’s New Model Y Juniper: Leaked Prototype Hints at Major 2025 Facelift
  • Mercedes-Benz CLA Gets a Chinese Heart—2.0-liter Turbo Gasoline Engine with 250 HP
  • Suzuki’s Grand Vitara Dominion Edition: Enhanced Exterior, Interior, and Hybrid Powertrains
  • 2024 Toyota Land Cruiser: 326-HP Hybrid Engine Powers Off-Road Performance at $90K
  • NCT Dream Stars Share Hilarious Childhood Memories with Kim Jong Kook
  • Han Ji Min Dazzles Fans in All-White Winter Look—See Her Stunning Holiday Photos
  • Kim Jaejoong Breaks Down in Emotional Moment During Concert—Here’s Why

You May Also Like

  • 1
    Mercedes-Benz CLA Gets a Chinese Heart—2.0-liter Turbo Gasoline Engine with 250 HP

    TECH 

  • 2
    Suzuki’s Grand Vitara Dominion Edition: Enhanced Exterior, Interior, and Hybrid Powertrains

    TECH 

  • 3
    2024 Toyota Land Cruiser: 326-HP Hybrid Engine Powers Off-Road Performance at $90K

    TECH 

  • 4
    NCT Dream Stars Share Hilarious Childhood Memories with Kim Jong Kook

    ENTERTAINMENT 

  • 5
    Han Ji Min Dazzles Fans in All-White Winter Look—See Her Stunning Holiday Photos

    ENTERTAINMENT 

Popular Now

  • 1
    Kim Jaejoong Breaks Down in Emotional Moment During Concert—Here’s Why

    ENTERTAINMENT 

  • 2
    Rain Reveals His Luxurious Life—From Expensive Home Tech to Dream Bus Rides

    ENTERTAINMENT 

  • 3
    Is Dex the Ultimate Boyfriend? Seohyun Jin Thinks So!

    ENTERTAINMENT 

  • 4
    Is the Toyota Century SUV Worth the Price? Here’s What You Get for $273,000

    TECH 

  • 5
    Is the Toyota Rumion the Best Value Minivan You Can Buy? Here’s Why It Might Be

    TECH 

Weekly Best Articles

  • BMW’s ‘Double Coffin Grille’ Faces Backlash in Unusual 1 Series Mod
  • E30 M3 Returns: A Fresh Design Brings BMW’s Classic into the Future
  • Lexus LFA’s Legendary Successor: What to Expect from the Upcoming Supercar
  • Renault’s Eco-Friendly Emblème Promises 90% Lower Emissions, 621-Mile Range
  • Honda’s New Passport: Sleek Redesign and 10-Speed Automatic Transmission Coming Soon
  • Tesla’s New Model Y Juniper: Leaked Prototype Hints at Major 2025 Facelift
  • Mercedes-Benz CLA Gets a Chinese Heart—2.0-liter Turbo Gasoline Engine with 250 HP
  • Suzuki’s Grand Vitara Dominion Edition: Enhanced Exterior, Interior, and Hybrid Powertrains
  • 2024 Toyota Land Cruiser: 326-HP Hybrid Engine Powers Off-Road Performance at $90K
  • NCT Dream Stars Share Hilarious Childhood Memories with Kim Jong Kook
  • Han Ji Min Dazzles Fans in All-White Winter Look—See Her Stunning Holiday Photos
  • Kim Jaejoong Breaks Down in Emotional Moment During Concert—Here’s Why

Must-Reads

  • 1
    Mercedes-Benz CLA Gets a Chinese Heart—2.0-liter Turbo Gasoline Engine with 250 HP

    TECH 

  • 2
    Suzuki’s Grand Vitara Dominion Edition: Enhanced Exterior, Interior, and Hybrid Powertrains

    TECH 

  • 3
    2024 Toyota Land Cruiser: 326-HP Hybrid Engine Powers Off-Road Performance at $90K

    TECH 

  • 4
    NCT Dream Stars Share Hilarious Childhood Memories with Kim Jong Kook

    ENTERTAINMENT 

  • 5
    Han Ji Min Dazzles Fans in All-White Winter Look—See Her Stunning Holiday Photos

    ENTERTAINMENT 

Popular Now

  • 1
    Kim Jaejoong Breaks Down in Emotional Moment During Concert—Here’s Why

    ENTERTAINMENT 

  • 2
    Rain Reveals His Luxurious Life—From Expensive Home Tech to Dream Bus Rides

    ENTERTAINMENT 

  • 3
    Is Dex the Ultimate Boyfriend? Seohyun Jin Thinks So!

    ENTERTAINMENT 

  • 4
    Is the Toyota Century SUV Worth the Price? Here’s What You Get for $273,000

    TECH 

  • 5
    Is the Toyota Rumion the Best Value Minivan You Can Buy? Here’s Why It Might Be

    TECH 

Share it on...