- Benchmark CSI 300 closed at a five-year low on Monday
- Cabinet was briefed on market situation and considerations
China’s Premier Li Qiang asked authorities to take more “forceful” measures to stabilize his country’s slumping stock market and investor confidence, after the mainland’s benchmark CSI 300 Index hit a five-year low on Monday.
Chinese equities have sold off for most of the past year, hurt by factors ranging from a protracted crisis in the housing market to persistent deflationary pressures in the wider economy. Beijing’s policy response so far has failed to buttress sentiment among investors hoping for even easier monetary conditions or a big lift in fiscal stimulus.
At a meeting on Monday chaired by Li, the State Council, China’s cabinet, received a briefing on the operations of the capital markets as well as considerations for related work, according to an official