Chinese listed companies announced share buyback plans totalling 67.6 billion yuan, or roughly 9.99 billion US dollars, in July, a level close to that seen during the 2025 trade war crisis, aimed at supporting share prices and restoring investor confidence battered by global sell-offs. Contemporary Amperex Technology, or CATL, the world's largest electric vehicle battery maker, proposed a buyback of up to 40 billion yuan, while Foxconn Industrial Internet announced a plan of up to 2 billion yuan. The accelerated buybacks come amid a sell-off in artificial intelligence stocks and concerns over the Chinese economy, with the CSI 300 Index falling more than 7 percent in July and the STAR 50 Index tumbling around 24 percent, its steepest decline since the index was launched in 2020. Analysts view the measures as providing short-term support to the market, but a sustainable recovery still hinges on earnings growth and the Chinese government's economic policies in the second half of the year.
Contemporary Amperex Technology Co Ltd Class ACATL proposed a buyback of up to 40 billion yuan to support share prices and restore investor confidence.
Foxconn Industrial Internet Co LtdFoxconn Industrial Internet announced a buyback of up to 2 billion yuan to support share prices.