Liu He intervention helps calm Chinese markets

People’s Bank of China

An intervention by Chinese vice-premier Liu He helped halt a period of turbulence in Chinese markets today (March 16), as an outbreak of Covid-19 and the Russia-Ukraine war unsettled investors.

Liu chaired an emergency meeting of the State Council’s Finance Committee as the stock market plunged, house prices fell and bond markets, particularly offshore, showed signs of strain.

Following the meeting, the Chinese authorities promised to take steps to “invigorate” the economy in the first quarter

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