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China relaxes rules on stock buyback to prop up share prices

China's stock exchanges in Shanghai and Shenzhen released new rules on listed companies' share repurchase on Friday, not only allowing them to buy back stocks when share prices tumble, but also make it easier for them to sell the shares repurchased for the purpose after holding for a short period, a further move to encourage listed companies to prop up stock prices with stock buybacks.

According to the announcement . . .

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