The Chinese economy has set a record вЂ” the value of shares of all companies traded on the country's stock market reached $10.08 trillion. Writes about this Financial Times with reference to data from Bloomberg. Thus, the Chinese economy broke the previous record of 10.05 trillion sets in 2015.
According to Bloomberg, since the market crash in March 2020 amid the coronavirus pandemic, the Chinese market has already added more than $3 trillion. This was facilitated by the policy of local authorities to support securities trading, a number of IPOs of Chinese companies, and the strengthening of the yuan.
The holiday period in China and the stable situation with the spread of coronavirus also have a positive effect on investor sentiment. In addition, the likelihood of victory in the US presidential election by Democrat Joe Biden is a positive factor, in which case US-China trade relations could significantly improve, writes Reuters.
China's stock market is the second-largest in the world, second only to the US, which is valued at $38.3 trillion. Also, the top three world leaders include the Japanese market, which is 6.2 trillion.