China's state council says will launch more measures to support development of private companies

Comments by China's state council on the economy

• Will give more support to medium financial institutions
• Will support private firms' financing via bond issuance
• Also will give credit support to private firms facing temporary liquidity issues during bond issuance

Chinese authorities keeping up with the rhetoric from over the weekend and Friday that they will continue to support the economy with new measures to bolster domestic companies. That has led to a surge in Chinese equities over the past two days with the Shanghai Composite posting a 4.1% gain earlier today.