China urges state-backed funds to buy more stocks amid market slump, falling bond yields
1. China urges state firms to increase stock purchases to stabilize markets. 2. Insurers to allocate 30% of premiums for stock investments, boosting market liquidity. 3. Pilot program aims to inject 100 billion yuan into long-term stock investments. 4. CSI 300 index rose 1.8% post-announcement, reflecting market optimistic response. 5. Record high dividend yields in China may attract further investments into equities.