Thread: 'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

The ruling Chinese Communist Party used its official media outlets to crank up positive propaganda surrounding the country's plummeting financial markets on Monday after a government intervention over the weekend, amid warnings that online "rumor-mongers" will be detained.

"Firm confidence instead of panic should be held for China's capital market as market risks are within control and fragile market sentiment will be reversed," the party's official People's Daily newspaper said in an editorial on Monday.

In a bid to reassure investors that tumbling share prices are a top priority for the government, the paper said that China has "sufficient tools" to stem the carnage, that saw the benchmark Shanghai Composite Index fall by nearly 30 percent in the past three weeks, with some 12 percent of its value lost last week.

"China has sufficient tools to bring the stock market back to sound footing as the economy keeps improving and the liquidity remains abundant," the People's Daily said.

It said the government is now engaged in "emergency and supportive measures to stabilize market sentiment."

More here: 'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

it still has a way to go

Chinese state media, always reliable and reassuring in times of crises, yes.

Originally Posted by baldrick

I believe all the money they will be throwing at this would have been better used for infrastructure across the region

Ya think?

Would of thought china has been spending more than enough if not to much on projects.

Originally Posted by Horatio Hornblower

Would of thought china has been spending more than enough if not to much on projects.

Yes, there is no shortage of infrastructure projects.
In fact it's interesting in China. Everything seems new, huge new highways, bridges tunnels, railway stations and networks, airports, sports grounds footpaths, roads.
In the west so much seems almost worn out by comparison.

^You left out "empty cities." China stock market diving again today...no bottom in sight...that's what happens when the game is over. Start looking for all those infrastructure projects to be abandoned as well their foreign financial support to dwindle...

The only thing that won't suffer is the Chinese Military Establishment...don't fuk with them or you're "toast."

Originally Posted by misskit

The ruling Chinese Communist Party used its official media outlets to crank up positive propaganda surrounding the country's plummeting financial markets on Monday after a government intervention over the weekend, amid warnings that online "rumor-mongers" will be detained.

Never thought the fallout of the greek referendum would reach that far. But worldwide meltdown as a result was predicted, wasn't it?

^China's been on the suspect list for quite a while....

Originally Posted by misskit

'Don't Panic,' Say China's State Media, Amid Ongoing Market Mayhem

Over 20% of listed China stocks now in trading halt

HONG KONG (MarketWatch) — Amid a heavy market selloff, 203 mainland-China-traded companies announced separately Tuesday that trading in their shares had been suspended.

This brought the total number of shares in trading halt over the past seven days to 651, or about 23% of the entire pool of 2,808 listed stocks, the Securities Daily reported Tuesday.

Many of the companies didn’t reveal the reasons behind the trading suspensions, though some cited reasons including the consideration of unspecified significant events, asset restructuring, or private share placements, the report said.


Many market observers saw the exodus into trading halts as a way for companies to protect their stocks from the current sharp drop for Chinese markets, according to the report. The Shanghai Composite Index SHCOMP, -1.29% having plunged 12.1% last week, though it was up 1.1% for the current week to date as of Tuesday’s close.

Reuters reported separately that the companies would face fines if they were discovered to have requested trading suspensions without good reason.

Among the 615 issues, 37% came from the Shenzhen Stock Exchange’s Small and Medium-sized Enterprise board (SME), while more than 22% were from the ChiNext 399006, -5.69% of start-ups, according to the the Securities Daily.



Over 20% of listed China stocks now in trading halt - MarketWatch

Wheeeeee!!! what a ride that crash will be!

Stocks in China are in free fall.

Markets across Asia followed China’s key share indexes into the red today despite further efforts from Beijing to stave off the relentless fall in Chinese share prices.

A short time ago the benchmark Shanghai Composite was down more than 5% for the day, having fallen as much as 7%, while the SSE 50 index of the top 50 stocks on the bourse was down more than 7%. The CSI 300 of the largest listed firms on the Shanghai and Shenzhen exchanges was down 7%.

Chinese stocks are crashing - Business Insider

Originally Posted by misskit

Don't Panic

Folks are ignoring you big gov.

Originally Posted by Norton

Originally Posted by misskit

Don't Panic

Folks are ignoring you big gov.

Question will be, where does the panic stop, by the looks of it, not in China.
Big miners in OZ, not happy, share prices falling, many listed on the London, NY exchanges.
Lots of foreign capital in China, some big banks, investment groups could take big hits, does China start selling off US treasury bonds to stimulate the economy, buying assets.
Are we looking at anther GFC, worlds sick and don't think governments can borrow their way out a second time.

I've been lots of articles on this. Obviously, worthy of following. What gov is saying seems typically silly, and massive numbers of companies not trading wrecks already fading confidence.

Note, the Shhenzen tech numbers. Waaay down

Originally Posted by jamescollister

Are we looking at anther GFC

I would say it is already happened

the only way we could have escaped is for China's demand for raw materials to have held - that fell off quite badly and so it affected their businesses across the board

now it will continue for a while - carnage

world commodity prices have been in freefall for days - everywhere is looking to cut costs or shutdown

the thai net whingers will not have to worry about chinese kids pissing in their gutters for a while now

Looking at some sites China is one, if not number one world investor overseas, remember it's state controlled capitalism, Communist.
Their interests are in keeping China stable, they can literally bankrupt other countries in minutes if they need to.
The peoples army made China, it must be on the minds of the leaders that those same people could change the status again [USSR] way.
So does China need the west, it needs resources, food, but much of this has been secured already.
Remember reading that the Pakistan deal for land, allows China to put security forces in Pakistan to protect the investment, 100,000 of them.
They seem to own a lot in Africa, Australia and many other countries, plus a hell of lot of US debt.
Question will be, are they world players, or more interested in national interests, keeping the party in power.

From reports the Russians are hesitantly going the Chinese way,though the Russians are concerned about the investments in former soviet states, and the chances the Chinese may use them for military bases.

Originally Posted by Horatio Hornblower

Isn't the majority of investment in China from Hong Kong Singapore.

That was the old days.

Been to China lately? HUGE money.
Mercedes and BMWs passe, on the roads very common to see Bentleys, Rolls, Porche, Ferraris, Maserati, Lambos.
Bet some of them are shitting themselves right now.
20% of China stocks suspended from trading today. (if they hit a certain number up or down they're automatically siuspended).
Hong Kong stocks following suite.

Essentially, 200 million pigs fucking over 800 million serfs and spunking the dividend in a huge money laundering operation involving continents over 15 years without adding value or substance generally means problems.

I have said for several years the Chinese thing would implode under its own mass of turpetitude and eventually fragment.

Looks like I was right but I'm quite surprised by the speed of the collapse.

The return of manufacturing to quality in the West will be a welcome boost to re- establishing its supremacy in the world.

Incidentally, the Australian economy is really vulnerable to the fallout from China's slowdown. There's just so much demand in the world for everything to go round and China has just too much capacity.
Them super funds will be toast.

Anyone who believes this will hurt China in the long run, is delusional. It may hurt for a few years to a decade. But they will come back stronger than ever.

Maybe it gives the West time to breathe and come to our senses on many levels.