China Stock Buybacks Hit Three-Year High Amid Market Slump

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The bull sculpture in front of the Shenzhen Stock Exchange on Jan. 16 in Shenzhen, South China’s Guangdong province. Photo: Bloomberg

(Bloomberg) — Chinese companies are ramping up share buybacks, playing their part in a widening rescue campaign to stem a $7 trillion rout in the world’s second-biggest stock market.

Firms listed on the Chinese mainland and Hong Kong spent 14 billion yuan ($1.9 billion) and HK$21 billion ($2.6 billion) repurchasing shares last month, respectively, each marking a record since 2021 when Bloomberg began compiling the data.