CHINA PRESS: The biggest firms listed in Shenzhen have signed a pledge on the...
CHINA PRESS: The biggest firms listed in Shenzhen have signed a pledge on the front page of Thursday's official Securities Journal that they will boost investor returns, look into share buybacks and employee share schemes and improve corporate governance. Their pledge, which is printed in red and signed by 97 Shenzhen city firms including Pingan Bank and property giant Vanke, is in response to the "irrational market volatility, to stabilize market expectations, boost investor confidence and restore the market to a healthy state", they said.
Shenzhen is down nearly 40% from its peak as a swathe of government initiatives have failed to shore up investor sentiment and end the panic selling which has gripped China's markets in recent days. (China Securities Journal)