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.
Huijin Central, 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.
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