China’s shocking start to 2022 adds pressure on authorities to calm markets
Financial turmoil risks overshadowing the Beijing Winter Olympics — already the target of a US-led diplomatic boycott — and impending leadership reshuffle
09 January 2022 – 07:55
China’s pledge to ensure economic stability is being tested by renewed turbulence in its financial markets, prompting officials to take more conspicuous measures in what is a politically crucial year.
Investors have had a lot to digest this week. Tencent’s partial divestment of a listed company exacerbated a $1.2-trillion (about R19-trillion) sell-off in Chinese tech shares, and one of the country’s largest bad-debt managers lost more than half its value in the equity market after a $6.6bn bailout…
Source: businesslive.co.za
