Share buybacks planned

The China Securities Regulatory Commission plans to let listed companies buy back their shares, in an effort to restore confidence in the stock market as it hits eight-year lows, the Wall Street Journal reported. The CSRC published a notice soliciting opinion on rules that would allow certain listed companies to buy back shares on the market. Investors are concerned about the oversupply of shares amid government plans to sell down its nontradable state-held shares.