Duzhe Publishing seeks to be listed in the Shanghai Stock Exchange. (Photo : Reuters)
Due to the recent economic slump, executives, board members and controlling shareholders of over 20 listed shareholding companies have released plans of adding more shareholders to their firms, in an effort to control more losses due to the recent heavy cuts in Chinese shares.
There are nine listed companies, including environmental protection firm Beijing GeoEnviron Engineering & Technology, on the Shanghai Stock Exchange, and 14 listed enterprises on Shenzhen Stock Exchange, which made the announcement over the weekend, according to two filed exchanges, exposing the confidence executives and board members have in their companies.
Shanghai Composite Index was able to doubled its shares within a year by June 12 by being financed by brokerages, but the market has been consistently experiencing problems over the past weeks, resulting to a loss of more than 28 percent from its peak on Friday.
The market correction has made good investments for many long-time investors and analysts.
"A raft of supportive monetary measures has been adopted and China's economic growth has stabilized, so blue-chip companies and shares related to the Internet and state-owned enterprise reform enjoy sunny prospects," said major equity fund management company Shi Bo of South China Fund.
There are 25 publicly offered funds in China that remain confident in maintaining a steady and healthy development of the stock market on Sunday.
Chairmen of the board and fund presidents said that they will actively add more products for consumers, and also made a commitment to purchase own products and stay with them for at least one year.
