www.bloomberg.com
In recent years, China’s “national team”—a coalition of state-backed funds—acted as a covert stabilizer for the stock market, intervening during downturns to buoy prices. However, as Beijing shifts its economic focus toward the real economy and high-tech industries, investors are facing a harsh reality: the era of direct, cushioning market interventions may be ending. This strategy shift has unnerved investors who relied on this implicit government backstop, contributing to recent financial volatility and signaling a move toward a more market-driven, yet potentially more volatile, investment landscape.
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