China COSCO Advocates for Share Buybacks Amid Economic Optimism

China COSCO Shipping Corporation Ltd announced its support for subsidiaries to enhance share buybacks and ownership stakes. The company expresses confidence in China's economic growth and the potential of the capital market, highlighting its optimistic outlook on future economic prospects.

China COSCO Shipping Corporation Ltd is encouraging its listed subsidiaries to increase their share buybacks and shareholding stakes, according to a statement released late Tuesday.

This strategic move demonstrates the state-owned enterprise's confidence in China's promising economic trajectory and capital market growth.

China COSCO is optimistic about the nation's developmental outlook, signaling a positive forecast for future economic advancement.

(With inputs from agencies.)