In a bid to stabilize the Chinese stock market following recent sell-offs, several major state-owned enterprises (SOEs) and the Central Huijin Investment have announced plans to increase their holdings in domestic equities. The People's Bank of China (PBOC) has also pledged to provide re-lending support to Huijin if necessary. As a result of these measures, the Shanghai Composite Index rose 1.58% to 3,145.55 points, while the Shenzhen Component Index increased by 0.4%. The ChiNext Index saw a notable gain of 3.83%. Over 100 A-share listed companies have initiated stock buyback programs, including prominent firms like Kweichow Moutai and PetroChina, reflecting a robust confidence in the long-term prospects of China's economy. This coordinated effort by state funds aims to bolster investor sentiment and restore stability to the capital market after a significant downturn, where the Shanghai Composite had previously dropped by 7.3%.