"Officials Brief President Xi Jinping on Plans to Rescue China's Plummeting $7 Trillion Stock Market"

Chinese regulators are planning to brief President Xi Jinping on the stock market as it continues to plummet, with anticipation for more forceful government efforts to end the rout. The CSI 300 benchmark closed 3.5% higher after the news, and foreign inflows surged. Officials have been working on market rescue measures, including tightening trading restrictions and planning to update the top leadership on market conditions and policy initiatives. The $7 trillion stock rout has prompted concerns about consumer confidence and the need for stabilizing the stock market, with hopes that this time will be different.