(Bloomberg) -- Stocks in China and Hong Kong jumped Thursday, after authorities intensified efforts to calm fears about a crackdown on the private education industry and as the central bank pumped liquidity into the financial system.

The Wednesday meeting had given some reassurance to investors, said Jun Rong Yeap, market strategist at IG Asia Pte.

Wednesday’s hastily arranged meeting led by China Securities Regulatory Commission Vice Chairman Fang Xinghai was the latest sign of Beijing’s discomfort with a selloff that sent the nation’s key stock indexes to the brink of a bear market.

However, the meeting “won’t dispel investors’ concerns completely as the regulatory policy wasn’t from CSRC,” said Daniel So, a strategist at CMB Internatioal Securities Ltd.

Interbank borrowing costs declined after the People’s Bank of China pumped in a net 20 billion yuan ($3.1 billion) of liquidity into the financial system with seven-day reverse repurchase agreements.

Steep stock market declines earlier this week were triggered by China’s shock decision to ban swathes of its booming tutoring industry from making profits, raising foreign capital and going public.

A front page editorial on Thursday by the Economic Daily reinforced the message that recent policies on tech and tutoring sectors were not aimed at restricting or suppressing the development of certain industries, while state-run Xinhua said China’s strengthening economy provided a guarantee and foundation for capital market development