Caixin
Oct 25, 2018 08:44 PM
FINANCE

Shenzhen’s State-Owned Investment Arm to Sell Bailout Bond

The skyline of Shenzhen, Guangdong province, is seen on Dec. 10, 2016. Photo: VCG
The skyline of Shenzhen, Guangdong province, is seen on Dec. 10, 2016. Photo: VCG

* Proceeds will be used to set up a special equity investment fund to help controllers of Shenzhen-based listed companies that are “operating healthily” to “deal with liquidity problems linked to pledged shares”

* Announcement marked the latest market-stabilizing effort led by national and local governments after China’s stock market sank to a nearly four-year low last week

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