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Agencies: Cancellation of the Chinese Prime Minister's annual press release raises concerns among investors

Agencies: Cancellation of the Chinese Prime Minister's annual press release raises concerns among investors

By Mohamed nasar

Published: March 4, 2024

Bloomberg News Agency mentioned that the decision to cancel the annual press conference held by the Chinese Prime Minister during the annual meetings of the National People's Congress (Chinese Parliament) may have negative effects on investors who are looking for more details regarding the Chinese government's future plans to revive the slowing economy.

Bloomberg pointed out the tradition since 1993 of the Chinese Prime Minister delivering a statement to local and foreign media during the People’s Congress meetings, where economic growth targets and initiatives for the coming year are unveiled.

This decision came following the ban on net selling of stocks during the first 30 minutes and the last 30 minutes of every trading day in Chinese stock exchanges, with Chinese stocks continuing to decline despite government measures aimed at supporting them. The decision to cancel the Prime Minister's press conference is considered a new problem that will affect stock performance.

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