China tries to calm markets by pledging support for economy

JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s leaders are trying to calm jittery investors by promising more help for its struggling real estate industry, internet companies and entrepreneurs who want to raise money abroad. That comes after regulatory crackdowns fueled uncertainty and caused Chinese stock prices to plunge. Officials at a Cabinet meeting said regulators should issue market-friendly policies to “invigorate the economy.” Chinese leaders are trying to revive economic growth that slid to 4% in the final quarter of 2021, compared with the full year’s expansion of 8.1%. That was triggered by a collapse in construction and housing sales after Beijing launched a crackdown on debt in real estate.