BEIJING (Reuters) - China’s central bank said on Wednesday that it will support stability in the stock market and guard against systemic and regional financial risks.
The People’s Bank of China will provide sufficient liquidity to China Securities Finance Corp, the state-backed margin finance company, via various channels, the central bank said in a statement on its website.
The central bank will “closely watch” the movement of the stock market, it said.
China shares have plunged some 30 percent in three weeks despite a flurry of market stabilization measures. [.SS]
Reporting by Kevin Yao and Pete Sweeney; Editing by Kim Coghill