China brokers pledge 120b yuan to stabilize stock market

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China publicly offered funds upbeat about stock market

Twenty-five Chinese publicly offered funds announced on Saturday that they are confident of maintaining stable and healthy development of the stock market.

Heads of the funds made the remarks during a meeting on Saturday, according to a statement of the Asset Management Association of China.

Board chairmen and presidents of the funds said the funds will offer more products to buyers and promised they will vigorously purchase their own products and hold them for at least a year.

According to a summary of remarks at the meeting, participants of the meeting said after recent fluctuations, a large number of stocks have exhibited investment value, offering a precious investment opportunity.

Leading asset management companies, including China AMC and E Fund, attended the meeting.