Chinese share buybacks hit record high as Beijing steps up support

Quick Summary:

In a sign of China’s faltering growth, GDP rose 4.6 per cent year on year in the third quarter, official data showed on Friday.

The bank forecasts that the total this year will reach Rmb3tn, with Hong Kong-listed companies such as Tencent and JD.com among the drivers of higher payouts.

The surge in buybacks began even before the Chinese authorities announced Rmb300bn in central bank loans to fund share repurchases last week.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Thomas Hale

Category: MarketsFinanceInvesting

Markets: United StatesChinaHong KongJapan

Topics: Buybacks Companies Shareholders Share Data Equity Cent Financial China’s Chinese Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 20:00:21 (6 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 589 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23171611

View Article Analysis

About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 10 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details

Frequently Asked Questions