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As the Chinese stock market reeled this week from Donald Trump’s “liberation day” tariffs, Beijing launched a co-ordinated government effort to support share prices.
Central Huijin, a sovereign wealth fund, issued a rare statement declaring itself a member of the “national team” — a term for Chinese institutions that work together to support the stock market.
It promised to increase its shareholdings and was soon joined by China Chengtong Holdings, a state asset manager, which said it would invest Rmb100bn ($13.6bn) in stock markets.
China Reform Holdings pledged Rmb80bn, while the National Council for the Social Security Fund, controlled by the Ministry of Finance, said it would also increase its holdings. In addition, the National Financial Regulatory Administration eased rules on stock purchases…
