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DeepNewz, mobile.
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In the first quarter of 2024, China's sovereign wealth fund, Central Huijin Investment, significantly increased its investments in the stock market to support declining market values. The fund purchased broad-based ETFs worth more than 200 billion yuan and blue-chip stocks valued at approximately 330 billion yuan ($45.5 billion), totaling over $41 billion. This strategic move aimed to stabilize the sliding stock market, although details on how the funds were raised for these purchases remain unclear.
Interesting. Even more interesting would be the details of how Central Huijin raised the $45b spent propping up the domestic equity market. Dividends from the banks/ investment firms it owns? Borrowing? https://t.co/zWbN3xCLHi
#China's state investor Central Huijin estimated to have spent 330 bn yuan increasing #ETF holdings in Q1 to support stock market https://t.co/haGgRmRP6L https://t.co/YducXbYuya
According to Caixin's calculation, Central Huijin, a Chinese sovereign wealth fund, spent nearly RMB 330 billion ($45.5 billion) in the first quarter of this year "shoring up the ailing stock market". https://t.co/hRezkma9tG