Market mavens said on Wednesday that China s A-share investors had welcomed Tuesday s guideline from the country s leadership to improve the social credit system in order to make the overall capital market healthy and facilitate high-quality economic development.
US-listed Chinese stocks continued to rally over the past week since a key meeting addressed a number of concerns regarding China s stock market and US-listed Chinese companies, prompting positive responses from companies as they move to boost investor confidence.
US-traded Chinese firms have been dragged into the heavier fog of regulatory uncertainty which roiled most of the firms on Thursday, in the wake of the US announcement of a provisional waitlist of five Chinese firms that may be removed from US exchanges.
As global gold price surged following the Russia-Ukraine conflict, many Chinese consumers rushed to stores to sell their holdings, while others, following a pullback in prices, are buying more in anticipation of further increases. That has resulted in a significant boom in spot gold trade in China.
China s centrally administered state-owned enterprises (SOEs) recorded double-digit growth in profits and revenues in January, with net profits growing 10.2 percent year-on-year to hit 142.38 billion ($22.41 billion), official data showed.