At a meeting on Monday chaired by Li, the State Council, China’s cabinet, emphasized the need to enhance the quality and investment value of listed companies, according to a report by state-run China Central Television.
Premier Li Qiang called for more effective measures to stabilize China’s slumping stock market after the mainland’s benchmark CSI 300 hit a five-year low on Monday.
Chinese stocks have sold off for most of the past year. The factors behind the drop range from the protracted crisis in the housing market to persistent deflationary pressures in the wider economy. Beijing’s policy response, meanwhile, has failed to buttress sentiment among investors hoping for even easier monetary conditions or a big lift in fiscal stimulus.
