Rumour of £30bn injection ignites Chinese economy

On Wednesday, China’s foremost share index, the Shanghai Composite index, rose by nearly 8% to 2,523.3 on the back of the rumour. Reports claim the government will put as much as 400bn Yuan ($58bn or £31.2bn) into the financial system. On Monday, the index had tumbled to a 20-month low having shipped around 60% in value from its peak last October. Investors with shares in stockbrokers benefited more than others, market data shows, with several up 10%. A report by JPMorgan Chase, which claimed that Beijing was near to introducing measures to revive confidence in ongoing company gain...