PBOC pledges support for stocks as China’s market slide defies rescue efforts

China’s central bank governor has reaffirmed support for the country’s beleaguered stock market after a series of rescue measures failed to put a floor under plummeting share prices. Pan Gongsheng, governor of the People’s Bank of China (PBOC), pledged in a work report presented to the standing committee of the National People’s Congress on Tuesday that more actions would be taken to ease financial risks in key areas, including the capital market and the property sector. “Monetary policy tools...