The Chinese state media, the Securities Daily and Economic Daily, came out with some comments to soothe the markets, especially after China’s benchmark Shanghai Composite index fell to more-than-two-year lows a day before amid escalating trade war tesnsions.
The Economic Daily noted (via Reuters):
“Intensifying trade frictions between China and the United States is a test that the Chinese economy inevitably had to experience during its rise.”
“We have long anticipated and prepared for this…The impact on the Chinese economy is within a controllable range.”
The Securities Daily newspaper called the slump in the A-share market an overreaction, saying that investors should have confidence in China’s domestic market and that the current macroeconomic situation was stable.
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