A total of 210 China's A-share listed companies disclosed stock purchase and buyback plans this week, according to China's top securities regulator.
The China Securities Regulatory Commission (CSRC) said the total amount of share purchases and buybacks hit a record high of nearly 90 billion yuan (about 12.30 billion U.S. dollars).
The plans underline the listed firms or their controlling shareholders' confidence in the enterprises' future development, signaling efforts to stabilize market expectations.
On Monday and Tuesday, several Chinese central state-owned enterprises (SOEs), including China National Petroleum Corporation (CNPC) and China National Coal Group (ChinaCoal), rolled out share purchase initiatives.
After their announcement, China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said on Tuesday it fully supports central SOEs in expanding share purchases and buybacks to safeguard shareholders' rights and consolidate market confidence.
210 Chinese A-share listed firms announce buyback, share increase plans this week
210 Chinese A-share listed firms announce buyback, share increase plans this week
As international gold prices continue to climb, gold prices in China have reached record highs.
On Wednesday, several major gold brands reported prices for pure gold jewelry exceeding 1,000 yuan (about 138.63 U.S. dollars) per gram, marking an all-time high.
On Wednesday local time, gold futures for June delivery on the New York Mercantile Exchange surged to 3,332.08 U.S. dollars per ounce, marking a 2.85 percent increase and setting a new all-time high for international gold prices.
Meanwhile, London spot gold prices briefly climbed above 3,310 U.S. dollars per ounce during intraday trading.
Since the beginning of April, gold has gained over 5 percent.
Driven by the momentum, the main gold futures contract listed on the Shanghai Futures Exchange once surged to 782 yuan per gram, setting a new record high. The spot gold price denominated in RMB has risen by about 26 percent so far this year, approaching the total gain for the whole of last year.
Recently, several major financial institutions, including Goldman Sachs, JPMorgan Chase, and UBS, have raised their forecasts for gold prices.
Analysts believe that as tariff tensions escalate once again and Asian markets show growing enthusiasm for gold investment, gold prices are continuously reaching new record highs.
China's gold prices hit new highs amid global market rally
China's gold prices hit new highs amid global market rally
