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The comments were made on the heels of official data that showed the Chinese economy expanded 6.5% in the third quarter, its weakest pace since the global financial crisis.

Wong argued that the markets are interpreting the comments as a signal Beijing could step in to prevent any further market meltdown, which wouldn’t be the first time either. During the 2015 market crash, state-run funds came in with large-scale stock purchases to support stocks.

Beyond the comments, Beijing has already implemented some fiscal policies to bolster growth, such as tax cuts and infrastructure spending, along with a looser monetary policy.

For more information on the Chinese markets, visit our China category.

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